JCI Breaks Record Closing Position at Thursday's Close
26 February 2015 20:16 WIB
TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) at the Indonesian Stock Exchange (IDX) has continued its uptrend from the previous day to close at 5,451 points—boosted by the continued flow of foreign capital into the domestic share market.
The JCI went up by 6.31 points or 0.12 percent to close at 5,451.42 points at the end of Thursday's trading session, while the Top 45 (LQ45) Index closed slightly lower by 0.61 points or 0.07 percent to close at 950.21 points.
An analyst for Asjaya Indosurya Securities, William Suryawijaya, said in Jakarta on Thursday that investors' confidence on Indonesia's economic outlook had allowed the Index to continue its uptrend—in fact, foreign investors booked a net buy totalling Rp1,244 trillion.
"Market players seem to still be enthusiastic, in anticipation of the release of Indonesia's economic performance figures by the Central Statistics Agency (BPS) next Tuesday, and the outlook is good for the time being," said William.
According to William, the government's commitment to mitigating the impact of a global economic slowdown is considered by investors as satisfactory—driving scores of market players to act optimistically and accumulate shares.
"Yesterday's correction was not out of the ordinary, and investors should've used the momentum to accumulate shares, especially since the Index is set to experience more uptrend in the near future," said William.
An analyst for HD Capital, Yuganur Wijanarko, added that although the JCI continued to appreciate—even breaking its latest record-breaking position—investors should remain vigilant and wait for another correction before moving to accumulate more shares.
"The corrections serve to relieve the overbought state in the domestic Index," said Wijanarko.
The IDX records show that throughout Thursday's trading session, there were 246,298 transactions, wherein 4.27 billion shares worth Rp5.10 trillion were traded.
Meanwhile, across Asia, the Hang Seng Index rose by 123.78 points or 0.50 percent to close at 24,902.06 points, the Nikkei climbed by 200.59 points or 1.08 percent to close at 24,902.06 points, while the Straits Times Index sagged by 14.65 points or 0.43 percent to close at 3,426.18 points.
ANTARA