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JCI strengthens by 6.9 points to 5,093 at opening
The Jakarta Composite Index (JCI) strengthened by 6
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he Jakarta Composite Index (JCI) strengthened by 6.9 points or 0.14 percent to 5,093 at the opening session on Monday amid expectations that the domestic economy will improve according to data to be released by the Central Statistics Agency (BPS).
Meanwhile, the index of 45 most liquid stocks (LQ45) also rose by 1.75 points (0.2 percent) to 871.19.
The head of the research unit of Valbury Asia Securities, Alfiansyah, said that the focus of investors would be on the domestic economic data, namely inflation, balance of trade and gross domestic products, which was expected to be positive in the first quarter this year.
"The results of the company profit reports were reflected in the JCI, which went through a deep correction last week. Later on, the focus of investors will on domestic economic data," he said as quoted by Antara news agency.
Asjaya Indosurya Securities analyst William Surya Wijaya repeated Alfian's remarks, saying that the strengthening of the JCI showed expectations that Indonesia's economy would remain stable. The data to be released by the BPS on Monday was expected to give positive nuances to the direction of the JCI movement, he said.
Improvements in the domestic economy, he said, would attract foreign investors to enter the domestic stock market again after selling their stocks over the last several days.
"Therefore, the opportunity to carry out accumulation of stock purchases can be utilized selectively," he said. (hhr)
