JCI Up by 5.73 Points on Tuesday Morning

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  • TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) at the Indonesian Stock Exchange (IDX) went up by 5.73 points on Tuesday morning - driven by positive sentiments from the domestic sphere as well as from across the globe.

    The JCI opened slightly higher by 5.73 points or 0.12 percent to begin trading at 4,971.12 points, while the Top 45 (LQ45) Index went up by 1.44 points or 0.17 percent to start trading at 844.98 points.

    "International and domestic positive catalysts are giving the JCI the boost it needs to begin trading on a positive note," said the Head of Research at Valbury Asia Securities in Jakarta on Tuesday morning, as quoted by Antara News.

    Alfiansyah said that China's trade balance have improved as the value of Chinese exports went up by 11.6 percent, while imports accounted for 4.6 percent in October, creating a surplus which would benefit Indonesia as one of China's major trading partner. Other positive boost comes from the United States (US) - where satisfactory performance reports of companies listed in its Index seems to suggest that the global economy is slowly moving towards a recovery.

    Domestically, JCI's uptrend is supported by Indonesia's foreign exchange reserves, which went up to US$112 billion in October - up from September's position of US$111.2 billion.

    That said, a number of internal factors continues to overshadow the IDX - which includes the uncertainties surrounding the government's plan to cut fuel subsidies. "The movements of JCI will remain varied, but there is a chance for a slight uptrend," said Alfiansyah.

    Meanwhile across Asia, the Hang Seng Index went up by 175.33 points or 0.74 percent to 23,920.03 points, the Nikkei similarly went up by 115.06 points or 0.69 percent to 23,920.03 points, while Singapore's Straits Times Index went slightly up by 5.42 points or 0.16 percent to 3,306.84 points.