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JCI strengthens on Friday morning
The Jakarta Composite Index (JCI) opened on a positive note at Fridayâs first trading session enjoying positive sentiments in the domestic market
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he Jakarta Composite Index (JCI) opened on a positive note at Friday's first trading session enjoying positive sentiments in the domestic market.
The JCI was up 49.47 points, or 1.12 percent, to 4,480.10.
'Technical factors accompanied by supportive policies from the government to guard the local economy have supported the JCI,' NH Korindo Securities Indonesia head of research Reza Priyambada said.
A few positive announcements from the government, including its plan to issue an economic stimulus package, and plans by state-owned firms for a share buyback had returned investors' confidence, he added.
Apart from that, he said that the return of foreign investors to the market had also supported today's rise.
Previously, the Indonesian Stock Exchange (IDX) president director Tito Sulistio said that the Indonesian stock market was still supported by strong economic fundamentals.
'Thus, negative perceptions and worries about the market are expected to be over soon,' he said.
In regional markets, the Hang Seng Index climbed by 153.65 points (0.70 percent) to 21,992.15, the Nikkei Index strengthened by 521.47 points (2.81 percent) to 19,100.79 and the Straits Times Index rose by 47.27 points (1.62 percent) to 2,992.88. (ika)
