(Kompas/Hendra A Setyawan)

The rupiah strengthened against the US dollar while the Jakarta Composite Index (JCI) stayed in the green zone at close, as the market welcomed the fourth economic package expected to help the economic recovery.

According to kontan.co.id, the rupiah was at 13,458 to the US dollar, appreciating 1.19 percent from Wednesday'€™s close at 13,620. The US is predicted to maintain its interest rate longer than the previous target.

The JCI, meanwhile, climbed 0.54 percent or 24.11 points to the level of 4.507,19. There were 137 stocks that rose, 129 stocks that declined and 109 stocks that were stagnant. A total of 6.7 billion lot of shares were traded, amounting to Rp 5.26 trillion.

A treasury research analyst at PT Bank Negara Indonesia Trian Fatria said that the market is expecting the US'€™ interest rate hike to be delayed from this year to next year, giving room for the government to strengthen the economy.

'€œIt will give more room for Indonesia to implement the announced policy package in an effort to prepare our economy from the impact of the coming increased Fed rate," he said in Jakarta.

Seven of ten sectoral indices contributed the JCI'€™s gain on Thursday, led by the Miscellaneous Industry Index, which added 3.65 percent, followed by the Manufacture Sector Index which rose 1.25 percent.

On the opposite, three sectoral indices were down. The Agriculture Sector Index dropped 0.76 percent, Trade Sector Index decreased 0.44 percent and the Construction and Property Sector Index fell 0.23 percent. (ags)

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