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JCI up 0.72% at Thursday's close
The Jakarta Composite Index strengthened in afternoon trading on Thursday on market optimism over the governmentâs economic policy
Change Size
The Jakarta Composite Index strengthened in afternoon trading on Thursday on market optimism over the government's economic policy.
The JCI rose by 31.82 points, or 0.72 percent, to 4,433.11. Meanwhile the index of the 45 most liquid stock groups (LQ45) was up 7.06 points (0.94 percent) to 753.17.
'The market is optimistic as it waits for the economic policy that will be announced by the government soon. This is the reason why investors are very active in buying shares, especially those in the construction sectors,' Universal Broker Indonesia head of research Satrio Utomo told Antara news agency.
He added that so far investors still trusted that the government would encourage better infrastructure development.
Another contributing factor to today's rise, he said, came from the strengthening of the majority of regional stock markets.
In regional markets, Japan's Nikkei Index was up by 86.99 points (0.48 percent) to 18,182.39 and Singapore's Straits Times Index also strengthened by 28.30 points (0.98 percent) to 2,906.43. However, Hong Kong's Hang Seng Index dropped by 250.49 points (1.18 percent) to 20,934.94.
Satrio also warned investors to remain cautious as conditions might change depending on external sentiments in the global economy.
NH Korindo Securities Indonesia head of research Reza Priyambada added that today's jump represented investors' positive expectations on domestic economic data to be released next week.
The market recorded 189,268 transactions with a volume of 4.42 billion shares worth Rp 3.60 trillion (US$253.8 million). As many as 184 stocks strengthened, 85 weakened and 90 stocks remained unchanged. (ika)
