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'JCI, rupiah ends the week with massive gain
The Jakarta Composite Index (JCI) increased for five days straight -- most recently increasing 97
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The Jakarta Composite Index (JCI) increased for five days straight -- most recently increasing 97.91 points, or 2.18 percent, to 4,598.34 on Friday's closing. Over the week, the index rallied 9.07 percent.
In the regular market, foreign investors injected more capital to buy stocks, surpassing the amount of capital they gained from selling their portfolio. They booked a net buy of Rp 300 billion (US$22.46 million) today.
The rupiah strengthened by 3.43 percent to 13,412 per US dollar at close, after touching its strongest level of the day at 13,281. The currency had appreciated further compared to its Thursday closing at 13,887.
Bank Indonesia's Senior Deputy Governor Mirza Adityaswara said the internal sentiment came from the latest economic package, which helped the rupiah appreciate, along with the external factors, which came from the Fed's meeting minutes, which signaled that the Fed rate rise would be on hold this year.
"It is the fundamental internal factor in Indonesia, not the external factor, that boosts the rupiah.' Investors in the money market are getting more confident with the government," Mirza said on Friday, as quoted by tribunnews.com.
The JCI's rally was the strongest among other equities markets in Asia-Pacific. Japan's Nikkei225 Index added 1.64 percent, Hong Kong's Hangseng Index rose 0.46 percent and China's Shanghai Index climbed 1.27 percent.
Amid the positive sentiments in the market, the value of trading reached Rp 7.98 trillion with 9.48 billion shares changing hands. During the day trading, 212 stocks increased, 82 stocks decline and 82 stocks were stagnant.
All ten sectoral indices moved to the green zone, led by Miscellaneous Industrial Sector Index (4.94 percent), Mining Sector Index (3.48 percent) and Property and Construction Sector Index (2.63 percent). (ags/bbn)
![A man walks across a pedestrian crossing near a billboard depicting named Iranian ballistic missiles in service, with text in Arabic reading “the honest [person's] promise“ and in Persian “Israel is weaker than a spider's web“, in Valiasr Square in central Tehran on April 15, 2024. Iran on April 14 urged Israel not to retaliate militarily to an unprecedented attack overnight, which Tehran presented as a justified response to a deadly strike on its consulate building in Damascus.](https://img.jakpost.net/c/2024/04/16/2024_04_16_149344_1713260233._medium.jpg)
