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Jakarta Post

JCI rises to 6,029, but rupiah continues to slump

  • News Desk

    The Jakarta Post

Jakarta   /   Thu, May 23, 2019   /   02:53 pm
JCI rises to 6,029, but rupiah continues to slump The trading floor of the Indonesia Stock Exchange (IDX) (JP/Wienda Parwitasari)

The Jakarta Composite Index (JCI) rose to 6,029.58 in the first trading session on Thursday, 1.51 percent or 89.95 points higher than its position the previous day, after security in the capital was restored following a violent protest of the election result announcement.

However, the rupiah continued on Thursday to follow a weakening trend. It was quoted at Rp 14,525 per United States dollar at 10:23 a.m., 0.31 percent lower than its position on Wednesday, according to Bloomberg.

Meanwhile, according to the Jakarta Interbank Spot Dollar (JISDOR), the rupiah stood at Rp 14.513 per US dollar, 0.17 percent lower than Rp 14.488 per US dollar on Wednesday.

On the other hand, the Indonesia Stock Index showed that 290 shares increased in value, while 111 shares decreased and 110 shares stagnated. The trade volume was recorded at 9.11 billion with the total transactions hitting Rp 4.6 trillion (US$317.64 million)

The JCI increase was supported by 10 sectorial indexes with the infrastructure sector contributing the strongest increase, up 2.44 percent, followed by the financial sector, 1.87 percent, the basic industry sector, 1.74 percent, and the manufacturing sector, 1.27 percent.

The three top gainers were PT Media Nusantara Citra, up 7.37 percent to Rp 1,020; PT Indah Kiat Pulp and Paper, up 4.94 percent to Rp 6,375; and PT Bumi Serpong Damai, up 4.53 percent to Rp 1,270.

However, foreign investors still booked net sales. On the regular market, net sales were recorded at Rp 255.19 billion, while total sales across the whole market totaled Rp 240.20 billion.

Jakarta Police chief. Insp. Gen. Gatot Eddy Purnomo said that security had been restored in capital on Thursday. “As of this time, the security situation is relatively favorable. There has been no escalation of incidents,” he said as reported by kontan.co.id.

However, he stressed that the police were still deployed to guard “vital objectives”. He said the number of security officers deployed remained the same as the last two days. (bbn)