JCI Rallies to Close at 5,103.52 Points
23 October 2014 18:52 WIB
TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) at the Indonesian Stock Exchange (IDX) closed at 5,103.52 points at the end of trading on Thursday—fuelled by positive domestic expectations.
The JCI appreciated by 29.19 points or 0.50 percent to 5,103,52 points, while the Top 45 (LQ45) Index rallied by 5.25 points or 0.61 percent to close at 867.71 points.
"Positive expectations among market players on the new administration's cabinet line-up is allowing the JCI to remain in the green zone," said the chairman of the Indonesian Securities Analysts Association (AAEI), Haryajid Ramelan, in Jakarta on Thursday.
He hopes that the individuals appointed to fill the new cabinet could help increase investors' confidence in Indonesia, which will drive more market players to invest more in the IDX.
Although the JCI is on an uptrend, there is a possibility of a correction as challenges begin to mount—among which includes the prospect of an interest rate hike by the Federal Reserve Bank of America, said Ramelan.
"As domestic political tension begins to dissipate, market players will return to scrutinizing Indonesia's economic fundamentals," said Ramelan.
There were 193,959 transactions recorded at the IDX throughout Thursday's trading session, where 3.67 billion shares worth Rp4.32 trillion were traded. The shares of 176 entities rose, while 132 suffered a degree of losses. The shares of 106 companies were stagnant.
Meanwhile across Asia, the Hang Seng Index slid by 70.79 points or 0.30 percent to 23,333.18 points, while the Nikkei also tumbled by 56.61 points or 0.37 percent to 15,138.96 points. Singapore's Straits Times Index rallied by 33.76 points or 1.05 percent to close at 3,236.50 points.
ANTARA
