TEMPO.CO, Jakarta - The Indonesia Stock Exchange (IDX) recorded that the Jakarta Composite Index (JCI) managed to gain an average 5.12 percent throughout the first quarter of 2017. The Index closed quarter one perching at 5,568.10, up from the end of 2016`s position of 5,296.71.
IDX spokesman Yulianto Aji Sadono said in a release on Sunday, April 2, that along with the JCI gain, Indonesian stock market capitalization also strengthened by 5.24 percent to Rp6,055.23 trillion. At the end of last year, the stock market cap stood at Rp5,753.61 trillion.
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"Throughout the first quarter, the JCI and the IDX's market capitalization managed to break records numerous times. The highest index level and market cap happened on Thursday, March 30, with the index reaching 5592.95 and the market capitalization at Rp6,078 trillion," he said.
Binaartha Sekuritas analyst Reza Priyambada said that friendly domestic macroeconomic sentiments in the first quarter were one of the main contributing factors to the JCI's gain.
"Stable inflation, increasing forex reserves, and a trade balance surplus dignified a conducive domestic economy," he said.
ANTARA
