The Indonesia Stock Exchange (idx
The Jakarta Composite Index (JCI) surged 1.61 percent, or 678.5 points, to 4,227.6 at Monday's opening, with all sectoral indices also rising.
US manufacturing jobs fell by 27,000 in September, sparking speculation that the US Federal Reserve's (Fed) fund rate would stay as is in October and thus boosting up the JCI.
Twenty minutes after opening, the JCI reached the important psychological level of 4,300 along with major equities markets in Asia. The MSCI Asia Pacific Index added 0.4 percent, rising to126.92, marking its fourth consecutive opening gain.
Japan's Topix Index increased 0.9 percent, South Korean's Kospi added 0.7 percent and Australia's S&P/ASX 200 surged 1.8 percent. Meanwhile, China's equities markets were closed due to holiday.
PT Asjaya Indosurya Securities analyst William Surya Wijaya said the JCI would still have room to increase on Monday, depending on data releases coming from both domestic and global economies.
"The upsurge in power is still there and [the JCI] will potentially reach its resistance level, as long as the support level of 4,120 is safely passed," William said to tribunnews.com, as quoted by kompas.com.
Investors, he continued, would carefully look at listed companies' Q3 earnings releases, expected to be up on the previous quarter and to support a further increase in the JCI.
At Monday's opening on the Indonesia Stock Exchange (IDX), 126 stocks increased while 29 declined. The remaining 51 stocks did not move. Investors traded 476 million shares, with a Rp 446 billion (US$30.6 million) transaction value.
The finance sectoral index led gains with a 3.4 percent increase, followed by the consumer sectoral index (2.35 percent) and the manufacturing index (2.07 percent). (ags/ebf)
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