TEMPO.CO, Jakarta – The Jakarta Composite Index (JCI) opened Thursday's trade with a 1.78-point gain. It is likely that the rebound is related to yesterday's cabinet reshuffle, as the index has been corrected quite deeply days before the reshuffle.
"The JCI rebounded after a deep correction experienced by domestic shares over the last two days," Valbury Asia Securities chief researcher Alfiansyah said here on Thursday, August 13.
The JCI climbed 1.78 points (0.04 percent) to 4,481.27 this morning. Meanwhile, the LQ45 moved up 0.45 points (0.06 percent) to 752.77.
Alfiansyah said that most investors responded positively to President Joko Widodo's decision to make changes in his ministry cabinet that took place on Wednesday, August 12.
Leo Putra Rinaldy, senior economist at PT Mandiri Sekuritas, said the reshuffle sends a message to the market that the Indonesian government is working to increase coordination and communication between ministries in policymaking.
ANTARA | RR