TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) climbed on Tuesday, April 14, 2020, following the results announcement of Bank Indonesia's board of governors' meeting. In the meeting, BI decided to lower the minimum statutory reserves.
The JCI climbed 82.6 bps or 1.79 percent to 4,706.49. The LQ45 index also moved up, gaining 2.71 percent to 712.26.
"The markets appreciated Trump's statement that he is committed to increase the limit of oil production to 20 million barrels per day during the OPEC meeting. It allows commodity prices to climb and led to market gains on the regional scale," Binaartha Sekuritas analyst M Nafan Aji Gusta Utama said here on Tuesday, April 14, 2020, as reported by Antara.
The market also got a positive sentiment from Bank Indonesia's board of governors' meeting today. The central bank lowered the minimum statutory reserves or GWM for rupiah savings by 200bps for conventional banks and 50bps for sharia banks and sharia business units.
BI also decided to keep the benchmark 7-Day Reverse Repo Rate (BI7DRR) at its current level of 4.5 percent
JCI closed today's trade with a foreign net sell value of IDR 426.99 billion. In total, 262 shares posted price gains while 143 fell and 137 stagnated.