JCI Opens Strong ahead Year-end
28 December 2018 13:13 WIB
TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) opened today's trade strongly. At the Indonesia Stock Exchange (IDX), the index started with a 0.16 percent gain at 6200.29 as investors collect shares ahead of the year-end.
Meanwhile, the LQ45 comprising of blue-chip stocks rose 0.25 percent to 990.41
Valbury Sekuritas chief researcher Alfiansyah said that the JCI often climbs ahead of the new year due to window dressing by issuers.
"Apart from global sentiments and market uncertainties, window dressing creates an opportunity for the JCI to stay within the positive territory," he said.
Another positive sentiment to the domestic market, he said, is this the stabilizing of the rupiah currency against the United States dollar.
"Stable rupiah and the International Investment Position (PII) in quarter three, which is relatively stable at 297bn or 28% of GDP," he added.
Meanwhile, Indosurya Bersinar Sekuritas director William Surya Wijaya said that foreign investors entry to the domestic Market also helped the index climbed.
"Capital inflows into the Indonesian financial market show that our economic fundamentals are favorable," he remarked.