JCI in the Green Zone on Monday Morning
22 December 2014 19:00 WIB
TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) at the Indonesian Stock Exchange (IDX) went up by 16.39 points on Monday morning, as investors are increasingly becoming more confident of Indonesia's economic fundamentals and future prospects, Antara News reported.
The JCI went up by 16.39 points or 0.32 percent to begin trading at 5,161.09 points, while the Top 45 (LQ45) Index similarly inched upwards by 4.14 points or 0.47 percent to start trading at 890.21 points.
An analyst for Asjaya Indosurya Securities, William Suryawijaya, said that the JCI is back in the green zone at the start of this week's trading session - reflective of Indonesia's positive economic fundamentals, and in line with the movement of the Rupiah, which is increasingly becoming more stable after suffering significant losses last week.
"The high amount of incoming foreign capital, as well as the sentiment generated by stock window dressing among investors will help the IDX sustain an uptrend as 2014 draws to a close," said William.
For the time being, added William, the JCI will continue on its uptrend. That said, there is not much room for the IDX to move further upwards, after having rallied throughout last week.
Meanwhile, the head of research at Woori Korindo Securities Indonesia, Reza Priyambada, said that although the IDX may still move upwards in the next couple of days, there still is a possibility for negative corrections in the future - especially if investors choose to profit from the uptrend by unloading their shares en masse.
"As long as investors do not see the uptrend as a chance to profit by selling off their holdings, the IDX may continue to move upwards further," said Reza.
Meanwhile across Asia, the Hang Seng Index went up by 186.40 points or 0.81 percent to trade at 23,303.033 points, the Nikkei inched downwards by 20.26 points or 0.11 percent to 17,607.23 points, while Singapore's Straits Times went up by 23.65 points or 0.72 percent to trade at 3,303.56 points as per Monday morning.
ANTARA NEWS
