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JCI strengthens by 1.11% at closing
The Jakarta Composite Index (JCI) strengthened at Tuesdayâs final trading session as foreign investors were once again conducting domestic stock buying actions
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he Jakarta Composite Index (JCI) strengthened at Tuesday's final trading session as foreign investors were once again conducting domestic stock buying actions.
The JCI strengthened by 59.77 points or 1.11 percent to 5,460.57, while the index of 45 most liquid stocks (LQ45) was up by 14.85 points (1.58 percent) to the level of 951.99.
Asjaya Indosurya Securities analyst William Surya Wijaya said foreign investors who had again started buying helped move the index into the positive.
'Foreign investors conducted stock buying actions after they carried out a 'net sell' in the last several days. This shows that investors' trust is still quite high toward the Indonesian stock market,' he said as quoted by Antara on Tuesday.
On Tuesday's trading sessions, the Indonesia Stock Market (IDX) recorded that foreign stock investors booked a foreign net buy of Rp 153.34 billion (US$11.8 billion).
With such conditions, William said, the JCI started to enter a short-term strengthening trend and technically the index's potential to continue its appreciation to the upper level of 5,485 points was quite strong.
The head of research for Universal Broker Indonesia, Satrio Utomo, said it was expected that the commemoration of the 60th anniversary of the Asian-African Conference could increase economic cooperation, which would eventually bring positive impacts to the capital market industry.
On Tuesday, the IDX recorded 230,419 transactions with a volume of 4.51 billion shares worth Rp 4.63 trillion. As many as 180 stocks strengthened and 126 weakened, while 103 stocks remained stagnant.
In regional markets, the Hang Seng Index strengthened by 755.56 points (2.79 percent) to 27,850.49, the Nikkei Index was up by 274.60 points (1.40 percent) to 19,909.09 and the Straits Times Index strengthened by 5.36 points (0.15 percent) to 3,508.61. (ebf)(+++)
