TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Shares gain ground, but rupiah weakens in morning trade
The rise in the JCI followed the upward trend of regional stocks, which mostly edged up on Tuesday as equity investors prepared for an expected United States interest rate cut this week.
Change Size
A man passes a share price monitor at the Indonesian Stock Exchange (IDX). Share prices mostly rose in early trading on Tuesday following an upward trend in the regional market (Antara/Akbar Nugroho Gumay)
T
he Indonesian Stock Exchange (IDX) started the day with a positive outlook as most shares gained ground in active trading. However, the rupiah went in the other direction as it further weakened against the US dollar.
At 10 a.m., the Jakarta Composite Index (JCI), the main price indicator, rose by 28 points or 0.45 percent to 6,327.21. Top gainers included Pakuwon Jati Tbk (PWON) with a 2.13 percent increase, Telekomunikasi Indonesia Tbk (TLKM) with a 1.90 percent gain and Elnusa Tbk (ELSA) with a 1.20 percent increase.
The rise in the JCI followed the upward trend of regional stocks, which mostly edged up on Tuesday as equity investors prepared for an expected United States interest rate cut this week.
South Korea's KOSPI.KS11 advanced 0.2 percent and Japan's Nikkei .N225 gained 0.7 percent. Australian stocks climbed as much as 0.7 percent to reach a record high, supported by buoyant mining shares and adding to the previous day's tech-driven gains, Reuters reported.
The top losers in the Indonesian stock market during the morning trade included Bank Negara Indonesia Tbk (BBNI) with a 1.20 percent decline, Bank Mandiri Tbk (BMRI) with a 0.64 percent fall and T Indofood CBP Sukses Makmur Tbk (ICBP) with a 0.47 percent decline, online economic news portal kontan.id reported.
Meanwhile, the Indonesian currency fell further against the US dollar after a slight increase last week. At 9.30 a.m., the rupiah lost 0.07 percent to reach 14,030 per US dollar, following a downward trend in the regional foreign exchange market. The Yen and Singapore dollar respectively dropped by 0.05 percent and 0.01 percent in the morning trade. (hen)
