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Foreign investors boost JCI's rally
Thejakartapost
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Thejakartapost.com/Wienda Parwitasari
On Monday the Jakarta Composite Index (JCI) rose 47.96 points, or 1.06 percent, to 4,569.84 as foreign investors returned and bought large stocks. The inflow helped the rupiah strengthen by 0.17 percent, ending the day at Rp 13,517 per US dollar.
Indonesia Stock Exchange (IDX) data showed foreign investors recorded a net buy of Rp 261.141 billion (US$19.31 million) on Monday's trading and a total of 241,436 transactions involving 4.59 billion shares worth Rp 3.43 trillion.
For the day's trading, 175 stocks rose, 119 stocks fell and 81 stocks were unchanged.
"The foreign inflow into Indonesia's capital market has boosted the JCI into a positive area," Asjaya Indosurya Securities analyst William Surya Wijaya said as quoted by Antara news agency on Monday.
At the same time, he added, most Asia Pacific bourses strengthened as China announced its 6.9 percent gross domestic product (GDP) in the third quarter. Hong Kong's Hang Seng Index added 0.04 percent in response to the news.
William said the JCI would technically approach its resistance level of 4,601 in the near future.
"It's a matter of time before the JCI to posts another rally. On Tuesday [tomorrow], the JCI will be hovering around 4,484 to 4,601 and potentially soar." (ags)
