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Following Asia's rally, JCI rises at Monday's opening
The Indonesia Stock Exchange (thejakartapost
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The Indonesia Stock Exchange: (thejakartapost.com-Wienda Parwitasari) (thejakartapost.com-Wienda Parwitasari)
The Indonesia Stock Exchange (thejakartapost.com-Wienda Parwitasari)
The Jakarta Composite Index (JCI) rose 29.97 points opening at 4,683.11 on Monday and increased a further 35.77 points or 0.77 percent to 4,688.92 as of 09:30 am, in line with the gains in Asia Pacific markets.
Asian equities markets kept rising as the MSCI Asia Pacific index rose 0.3 percent to 136.15, after reaching its highest level since Aug. 19 on Friday, last week. On a month-to-date basis, the Asia Pacific stock market benchmark jumped 9.7 percent.
Australia's S&P/ASX 200 index climbed 0.3 percent and South Korea's Kospi index rose 0.4 percent after China decided to cut its interest rate benchmark as part of efforts to boost their economy. The market responded to the measures positively.
Sucorinvest Central Analyst Gani Achmad Yaki Yamani predicted the bourse barometer would fluctuate between 4,610 and 4,690, with a tendency to rally.
"However, the room for profit taking is still there," Achmad said as quoted by Kontan.co.id on Monday in Jakarta.
Fundamentally, he continued, the JCI's potential rally was justified as the government had released the fifth economic package, which helped the rupiah to strengthen to Rp 13,610 per US dollar.
The Indonesia Stock Exchange (IDX) showed that134 stocks increased and 57 stocks decreased, while 63 stocks were unchanged. The transaction value reached Rp 915.68 billion (US$ 67.36 million) involving 1.09 billion lots of shares.
The finance sector Index led the gain, with a 1.9 percent rise, followed by the miscellaneous industry index and infrastructure sector index which added by 0.79 percent and 0.73 percent, respectively. (ags)
