JCI Opens in the Green on Tuesday`s Start

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  • TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) at the Indonesian Stock Exchange (IDX) went up by 14.68 points at the start of Tuesday`s trading session - boosted by positive news from external markets.

    The JCI went up by 14.68 points or 0.31 percent to commence trading at 4,763.63 points, while the Top 45 (LQ45) Index similarly went up by 3.75 points or 0.47 percent to start trading at 811.66 points.

    The Head of Research for Valbury Asia Securities, Alfiansyah, said in Jakarta that the positive performances of bourses across the region has drive market players to accumulate shares in the domestic market - thus boosting the Index.

    "The uptrend observed in the US and Europe following rumours of a possible intervention by the Chinese government through the endowment of further stimulus is boosting the performances of share markets across the glove," said Alfiansyah.

    That said, continued Alfiansyah, domestic sentiments are holding the Index from appreciating further - for example, Indonesia's declining foreign exchange reserves seems to signal that Indonesia's economic growth is slowing down. Its high inflation rate is also negatively impacting the Rupiah.

    Meanwhile, the Head of Research for Universal Broker Indonesia, Satrio Utomo added that although there are some boost for the Index from the regional markets, investors need to be wary because the Rupiah is expected to slide even further.

    "Investors need to watch out as foreign investors have been unloading their holdings in the Indonesia share market for the past week. Amidst the varied sentiment, the Index is expected to hover between 4,711 and 4,795 points," said Satrio.

    Meanwhile across Asia, the Hang Seng Index went up by 344.58 points or 1.41 percent to commence trading at 24,865.70 points, the Nikkei went up by 89.33 points or 0.43 percent to begin trading at 20,898.02 points, while the Straits Times Index went down by 12.02 points or 0.41 percent to begin trading at 3,184.62 points.