TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) at the Indonesian Stock Exchange (IDX) opened slightly higher on Wednesday morning by 25.20 points or 0.51 percent to 4,947.78 points, while the Top 45 Index (LQ45) went up by 6.31 points or 0.76 percent to 837.65 points, as positive sentiments from around the globe gives the IDX the boost it needs.
"The JCI is benefitting from the positive sentiments from markets around the world, which is pushing domestic investors to re-invest in shares," said Reza Priyambada, the head of research at Woori Korindo Securities Indonesia in Jakarta, on Wednesday, October 15, 2014.
Reza added that the IDX is also aided by the rupiah's appreciation this morning.
"That said, the IDX's uptrend will remain limited as investors are anticipating a number of major companies to release the summaries of their finances for the third quarter of 2014," said Reza.
The head of research at Valbury Asia Securities, Alfiansyah, said that future IDX gains should be accompanied with increased transaction volume and value, as so far IDX gains have not been accompanied by either.
"The uptrend may continue with a possibility of movements towards either sides. It is a good time to accumulate shares because its right before the inauguration of president and vice president-elect Joko Widodo-Jusuf Kalla, which is slated to happen on October 20," said Alfiansyah.
Meanwhile across Asia, the Hang Seng Index went up by 55.40 points or 0.24 percent to 23,103.37 points, and the Nikkei also rose by 5.47 points or 0.04 percent to 14,941.98 points. Singapore's Straits Times Index was up by 9.10 points or 0.28 percent to 3,203.23 points.