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JCI up by 0.61% at closing
The Jakarta Composite Index (JCI) strengthened during Tuesdayâs final trading session along with foreign fund inflows that occurred in the domestic stock market again
T
he Jakarta Composite Index (JCI) strengthened during Tuesday's final trading session along with foreign fund inflows that occurred in the domestic stock market again.
The JCI strengthened by 32.54 points or 0.61 percent to 5,320.90 while the index of the 45 most liquid stocks or LQ45 was up by 6.83 points (0.74 percent) to 927.75.
'Foreign funds that entered again in the regular market became one of the supports for the JCI in today's trading sessions,' said Universal Broker Indonesia head of research Satrio Utomo as quoted by Antara news agency in Jakarta on Tuesday.
The Indonesia Stock Exchange (IDX) recorded that foreign market players booked a foreign net profit of Rp 132.54 billion (US$10.07 million) on Tuesday.
Satrio said, however, that the index's appreciation was still short-term as Dow Jones signals still tended to be negative and the situation could impact stock markets in Asia.
Technically, he said, the JCI still had a potential to be pushed down further to below the level of 5,300 points, but after that, the potential of the index to appreciate higher than the current level was quite open.
Asjaya Indosurya Securities analyst William Surya Wijaya said the JCI's next upper-limit target of 5,369 points had a potential to be achieved in the near future. If it could be achieved, it would continuously strengthen the index' appreciation in the short term.
'It is predicted the JCI will move within the range of between 5,271'5,369 points on Wednesday, with a chance to continue to strengthen,' he said.
In Tuesday's trading sessions, the IDX recorded 182,381 transactions with a volume of 4.52 billion shares worth Rp 6 trillion.
In regional markets, the Hang Seng Index strengthened by 257.03 points (0.92 percent) to the level of 28,249.86; the Nikkei Index was up by 23.71 points (0.12 percent) to 20,437.48; and the Straits Times weakened by 0.87 points (0.03 percent) to 3,459.98. (ebf)(++++)
