JCI Continues its Uptrend

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  • Ilustrasi Indeks Harga Saham Gabungan. ANTARA/Yudhi Mahatma

    Ilustrasi Indeks Harga Saham Gabungan. ANTARA/Yudhi Mahatma

    TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) at the Indonesian Stock Exchange (IDX) went up by 16.75 points or 0.33 percent to 5.057,28 points at the start of Tuesday's trading.

    The Top 45 (LQ45) Index also went up by 4.19 points or 0.49 percent to begin trading at 859.22 points on Tuesday morning.

    "The JCI continues its rally after the inauguration of Indonesia's new President and Vice President. It is hoped that the positive sentiment will remain," said William Surya Wijaya, an analyst for Asjaya Indosurya Securities in Jakarta on Tuesday.

    William said that technically speaking, the JCI still has some room to continue its gain up to 5,141 points - its uptrend boosted by a continued inflow of foreign investments into Indonesia's share market.

    "For the meantime, the JCI and the IDX is returning to the green zone," said William.

    Meanwhile, the Technical Analysis Team at Mandiri Sekuritas explained in its report that domestic investors are waiting for the announcement of the new cabinet composition, which will serve alongside President Joko Widodo and Vice President Jusuf Kalla.

    The report also said that Foreign Direct Investments (FDIs) inflow into Indonesia has increased by 6.8 percent in the third quarter of 2014 - up from 3.6 percent in the previous quarter. Furthermore, the report also said that the investment stance of Indonesia's Investment Planning Board (BKPM) will ensure economic growth in the fourth quarter of 2014.

    "Investments will increase as political risks decline," said the report.

    Analysts predict that the JCI will hover around 4,974 to 5,104 points during Tuesday's trading session.

    Meanwhile across Asia, Hong Kong's Hang Seng Index went up by 102.29 points or 0.44 percent to 23,172.55 points, while the Japan's Nikkei slid by 91.81 points or 0.61 percent to 15,019.42 points. Singapore's Straits Times Index also went up by 14.89 points or 0.47 percent to 3,196.01 points.