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JCI strengthens slightly at opening
The Jakarta Composite Index strengthened slightly during Wednesdayâs first trading session ahead of the release of Indonesiaâs gross domestic product data for the second quarter of 2015
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he Jakarta Composite Index strengthened slightly during Wednesday's first trading session ahead of the release of Indonesia's gross domestic product data for the second quarter of 2015.
'On Wednesday, the Central Statistics Agency [BPS] is scheduled to announce Indonesia's GDP figures. The data is important to determine both optimistic and pessimistic outlooks for the country's future economic conditions,' Universal Broker head of research Satrio Utomo said as quoted by Antara in Jakarta on Wednesday.
The JCI was up by 5.3 points, or 0.11 percent, to 4,786.39 while the index of 45 most liquid stocks (LQ45) strengthened by 1.35 points, or 0.17 percent, to 812.34.
Satrio said the market had so far expected that national economic growth would be in accordance with the optimism of Finance Minister Bambang Brodjonegoro who said Indonesia's economic growth in the second quarter was better than the first quarter's figure of 4.71 percent.
He said second quarter economic growth data that was in line with expectations could see the JCI to stay positive and would determine the direction of the market's trend in the middle term.
'The JCI is expected to vary within the range of 4,771-4,805 points on Wednesday,' said Bambang.
In regional markets, the Hang Seng Index strengthened by 66.37 points, or 0.27 percent, to 24,472.49; the Nikkei Index was up by 101.89 points, or 0.50 percent, to 20,622.25; and the Straits Times Index weakened by 6.49 points, or 0.20 percent, to 3,184.96. (ebf)(+++)
