JCI Opens in Green on Monday Morning
2 March 2015 12:20 WIB
TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) at the Indonesian Stock Exchange (IDX) went up by 2.53 points or 0.05 percent to commence trading at 5,452.83 points on Friday morning.
The Top 45 (LQ45) Index similarly rose by 0.64 points or 0.07 percent to open at 947.51 points.
An analyst for Asjaya Indosurya Securities, William Suryawijaya, said in Jakarta on Monday that the JCI continued its uptrend as market players were anticipating the release of Indonesia's economic performance figures by the Central Statistics Agency (BPS), which were expected to meet investors' expectations.
"Indonesia's inflation figures are expected to remain low and post a positive trade balance, which means that the economy is still under control," said Suryawijaya.
Suryawijaya hopes that the figures actually meet market expectations, which will encourage foreign investors to pump in more capital into the domestic market. As per today, foreign investors have booked a net totalling Rp10,819 trillion.
"The Index is predicted to continue its uptrend until it reaches its resistance level at 5,513 points," said Suryawijaya.
The head of research at Valbury Asia Securities, Alfiansyah, added that throughout this week, investors' actions would reflect Indonesia's economic performance figures, including January's trade balance figures, as well as February's inflation figures.
Alfiansyah explained that Bank Indonesia (BI) had predicted that based on the current consumer price index, Indonesia would experience a 0.2 percent deflation in February, which was still mostly driven by the government's decision to readjust fuel prices.
He added that BI had also appreciated the government's efforts to stabilize the prices of basic necessities. "If those indicators meet the market's expectations, then the JCI could experience further uptrends," said Alfiansyah.
Meanwhile, across Asia, the Hang Seng Index opened higher by 115.56 points or 0.47 percent to open at 24,938.85 points, the Nikkei went up by 40.19 points or 0.21 percent to commence trading at 18,837.89 points, while the Straits Times slipped by 5.32 points or 0.17 percent to open at 3,397.94.
ANTARA
