JCI Opens in Green at Thursday's Start
5 March 2015 15:44 WIB
TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) at the Indonesian Stock Exchange (IDX) went up by 9.83 points or 0.18 percent to begin trading at 5,457.89 points on Thursday morning, while the Top 45 (LQ45) Index rose by 2.48 points or 0.26 percent to open at 949.00 points.
An analyst for Asjaya Indosurya Securities, William Suryawijaya, said in Jakarta on Thursday that market players had begun to accumulate shares that had experienced some degree of negative correction in yesterday's trading session, which boosted the movement of the Index into the green.
"After a correction occurs, usually investors will return and begin to accumulate shares. In fact, foreign capital is still pouring into the domestic share market," said William.
According to him, positive expectations on Indonesia's economic fundamentals are still strong enough to support the JCI's uptrend. As such, the JCI is predicted to hover between 5,389-5,513 points throughout Thursday's trading session.
Meanwhile, a technical analyst for Mandiri Sekuritas, Hadiyansyah, added that in the short-run, the Index would continue its uptrend—boosted by the appreciation of shares in the agricultural, banking and finance sector.
"Currently, crude Palm Oil (CPO) prices are experiencing positive growth. As far as we can see, the prices of shares in the agricultural sector are set to rise for a while," said Hadiyansyah.
Meanwhile, across Asia, the Hang Seng Index slipped by 153.98 points or 0.63 percent to commence trading at 24,311.40 points, the Nikkei climbed by 46.79 points or 0.25 percent to open at 18,750.39 points, while the Straits Times tumbled by 0.42 points or 0.01 percent to begin trading at 3,414.27 points.
ANTARA