TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) at the Indonesian Stock Exchange (IDX) closed at 5,141.76 points at the end of Monday's trading session.
The JCI went up by 29.71 points or 0.58 percent to close at 5,141.76 points, while the Top 45 (LQ45) Index rose by 8.37 points or 0.95 percent to trade at 886.92 points at Monday's closing.
"The general uptrend experienced by Asian markets, the general stability of the rupiah, as well as an influx in foreign investments are giving the IDX the boost it needs to sustain an uptrend," said the head of research at Woori Korindo Securities Indonesia, Reza Priyambada, in Jakarta on Monday.
The IDX records show that foreign investors booked a net buy of Rp142.928 billion on Monday. Reza added that China's decision to lower its interest rates on loans has the effect of making riskier markets and commodities more appealing to investors.
An analyst for HD Capital, Yuganur Wijanarko, agreed and said that the IDX's movement is largely in line with the movement seen in markets across Asia, and that it has managed to breach the psychological threshold, which has hovered around the 5,100 mark.
That said, Wijanarko explained that technically speaking, the uptrend was expected to subside as the market became saturated by buyers, and as such, a negative correction was to be expected in the next few days.
The IDX records show that on Monday there were 247,718 transactions, wherein 6.52 billion shares were traded with a total capitalization of Rp5.03 trillion.
Meanwhile across Asia, the Hang Seng Index is up by 456.02 points or 1.95 percent to close at 23,893.14 points, while the Nikkei rose by 56.65 points or 0.33 percent to 17,357.51 percent. Singapore's Straits Times Index weakened slightly by 2.79 points or 0.08 percent to end trading at 3,342.53 points.