JCI Opens in Green at Wednesday's Start
4 March 2015 15:26 WIB
TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) at the Indonesian Stock Exchange (IDX) went up by 3.20 points or 0.60 percent to commence trading at 5,477.82 points at the start of Wednesday's trading session, while the Top 45 (LQ45) Index climbed by 0.81 points or 0.08 percent to open at 953.91 points.
"The JCI is plateauing amid varied performance reports across the regional markets," said the lead researcher at Valbury Asia Securities, Alfiansyah.
Alfiansyah explained that the bourses across Asia—including the JCI—are affected by the sentiments generated by the results of Greece's bailout renegotiations with the European Union (EU).
It has been reported that EU ministers and Greece have begun to renegotiate the terms for the third round of bailouts, which are expected to be rather similar to the previous two bailout packages granted for the financially-troubled nation.
Domestically speaking, continued Alfiansyah, market players were beginning to be cautious as the rupiah continued to depreciate against the greenback, which could potentially harm the JCI's growth in the future.
The lead researcher at NH Korindo Securities Indonesia, Reza Priyambada, advises investors to remain vigilant of the possibility of a sharp reversal of trends, as some investors are choosing to engage in profit-taking in light of the Index's recent appreciations.
"The unloading of shares and the reduction in purchase rates among investors are expected to continue—assuming that Indonesia's technical markers indicate the possibility of a downturn. Unless, there are positive sentiments from the external market that could balance out the negative sentiments from the domestic market," said Reza.
Meanwhile across Asia, the Hang Seng Index slipped by 38.20 points or 0.15 percent to open at 24,664.58 points, the Nikkei sagged by 156.23 points or 0.83 percent to commence trading at 18,658.93 points, the Straits Times Index rose by 7.09 points or 0.19 percent to begin trading at 3,428.23 points.
ANTARA