TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) at the Indonesian Stock Exchange (IDX) went up to close at 4,850.53 points after Indonesia's Gross Domestic Product (GDP) for the second trimester of 2015 exceeds the market's expectations.
The JCI went up by 69.44 points or 1.45 percent to conclude trading at 4,850.53 points, while the Top 45 (LQ45) Index similarly went up by 16.57 points or 2.04 percent to end trading at 827.55 points.
An analyst for HD Capital, Yuganur Wijanarko, said that Indonesia's GDP growth has driven market players to accumulate shares in the domestic market, which boosted the value of the Index.
The Central Statistics Agency (BPS) has noted that Indonesia's GDP growth stands at 4.67 percent in the second trimester of 2015 - above the market's expectation which places the growth rate nearer to 4.64 percent," said Wijanarko.
"This has driven market players to accumulate shares - thus boosting the Index beyond its' psychological threshold at 4,800 points," Wijanarko continued.
On the other hand, Wijanarko explained that the decline in global crude oil prices have positively impacted the consumers' spending capacity and increased the profit margins of companies, by reducing the cost of operations.
"We recommend investors to look into blue-chip and second tier shares with large capitalizations, which are currently trading below their average prices," said Wijanarko.
According to IDX records, throughout Wednesday's trading session, there were 225,808 transactions wherein 3.80 billion shares worth Rp4.35 trillion were traded.
Meanwhile across Asia, the Hang Seng Index went up by 108.04 points or 0.44 percent to close at 24,514.16 points, the Nikkei similarly went up by 93.70 points or 0.46 percent to conclude trading at 20,614.06 points, and the Straits Times Index also went up by 0.35 points or 0.01 percent to end trading at 3,191.39 points.