TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) at the Indonesian Stock Exchange (IDX) gained 44.97 points or 0.89 percent at the end of the trading session on Wednesday, closing at a level of 5,074.32.
Meanwhile, the Top 45 (LQ45) Index also went up by 9.03 points or 1.06 percent to close at 862.46 points.
The head of research at Bahana Securities said that positive expectations of Jokowi-JK's cabinet line-up is giving the IDX the boost it needs. "If the line-up comprises of credible and competent individuals, the IDX will definitely resume its' uptrend," he said.
He added that so far, market players continue to believe that the cabinet will be filled by professionals and technocrats, which increases the inflow of foreign investments into the domestic share market.
Throughout Wednesday's trading session, foreign investors booked a net purchase of Rp 44.945 billion.
William Surya Wijaya, an analyst for Asjaya Indosurya Securities, said that the JCI is returning to the green zone, and that its' short-term uptrend is boosted by the increasing amount of foreign capital which continues to flow into the domestic market. "This shows that investors are pretty confident about Indonesia's future economic prospect," he said.
He predicts that the IDX will continue its' uptrend in Thursday's trading session - hovering between 5,016 to 5,165 points.
Throughout today's trading session, IDX recorded 191,241 transactions with 3.32 billion shares being traded with a total capitalization of Rp 4 trillion. Thwo hundred and twenty shares managed to record positive gain, while 86 shares suffered some losses, and 88 others remained stagnant.