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JCI opens in the green on Thursday
The Jakarta Composite Index (JCI) rose on Thursday due to positive sentiments from external stock markets
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The Jakarta Composite Index (JCI) rose on Thursday due to positive sentiments from external stock markets.
The JCI was up by 26.66 points or 0.615 percent to 4,427.95 while the index of the 45 most liquid stocks (LQ45) strengthened by 6.82 points (0.91 percent) to 752.93.
Samuel Sekuritas analyst Akhmad Nurcahyadi said in Jakarta on Thursday that stock markets in the Asia-Pacific region strengthened along with US stocks, and all this factored into the JCI's increase.
'The Indonesian stock market dropped quite significantly in Wednesday's trading sessions. The JCI closed lower yesterday,' said Akhmad.
'The upward trend for most of the stock markets in the Asia-Pacific region has become one of the things that supported the JCI,' he added.
Akhmad predicted that the JCI still had the potential to strengthen as market players were waiting for the release of domestic macroeconomic data next week.
Valbury Asia Securities head of research Alfiansyah added that the movement of global stocks, including those in Indonesia, was still shadowed by global economic growth, which was predicted to be weaker than previous expectations due to a slowing economic recovery in a number of developed countries and economic slowdowns in developing countries.
'Developing countries, such as Indonesia, are considered prone to the impact of global slowdowns,' said Alfiansyah.
However, he said, Indonesia was considered by the International Monetary Fund (IMF) to be a country that was quite well-prepared to face the current global economic uncertainties. The IMF predicted that global growth would stand at 3.3 percent in 2015, or slightly lower than 3.4 percent from last year.
In regional markets, the Hang Seng Index weakened by 250.49 points (1.18 percent) to 20,934.94, the Nikkei Index was up by 208.95 points (1.15 percent) to the level of 18,304.35 and the Straits Times Index strengthened by 0.51 points (0.02 percent) to 2,878.64. (ebf)(++++)
