The Jakarta Post
The Jakarta Composite Index rose by 0.94 percent or 55.58 points to 5,962.69 in the first trading session on Tuesday, after the General Elections Commission (KPU) announced the victory of President Joko “Jokowi” Widodo late on Monday.
The Indonesian Stock Exchange (IDX) recorded 255 shares up, 125 down and 114 making no significant move. The trading volume was recorded at 8.24 billion shares with total transactions amounting to Rp 4.32 trillion (US$298 million).
Ten sectors supported the JCI increase, with the construction sector being the strongest contributor (up 1.64 percent), followed by the diversified industry sector (up 1.58 percent) and the basic industry sector (up 1.17 percent).
However, the upward move was contained by foreign investors selling shares. Foreign net sells amounted to Rp 350.22 billion.
The top gainers were PT Pabrik Kertas Tjiwi Kimia (up 10.42 percent at Rp 6.625), PT Indah Kiat Pulp and Paper (up 7.69 percent at Rp 6,300) and PT Indika Energy (up 5.71 at Rp 1.295), while the top losers were PT Semen Indonesia (down 2 percent at Rp 11,025), PT Barito Pacific (down 1.64 percent at Rp 3.590) and PT Charoen Pokphand (down 1.53 percent at Rp 4.510).
IDX president director Inarno Djajadi expressed optimism that the JCI would remain robust following the announcement of the result of the presidential election.
“People may want to wait [to assess] the political situation, because the market is also in a wait-and-see mode,” he said on Tuesday, as reported by komton.co.id, adding that if there was no conflict, the positive signals from the last two days would continue. (bbn)