JCI CLOSED HIGHER ON BUYING BY FOREIGN STOCK INVESTORS AND MARKET SENTIMENT

Jakarta, 11 Muharram 1437/24 Oktober 2015 (MINA) – The Jakarta Composite Index (JCI) rallied 1.5 percent, or 68.58 points, to 4,653.14 at Friday’s close, along with the rupiah, which strengthened by 0.16 percent to Rp 13,655 against the US dollar.

Head of research at Universal Broker Indonesia Satrio Utomo said that purchases by foreign investors had helped the stock benchmark index to climb on Friday. Foreign investors recorded a net buy of Rp 406.63 billion.

“Foreign investors moved in varying ways. In the morning, they tended to sell, but then during the day and the afternoon’s trading, they went back to the market and took a buying position,” he said, Mi’raj Islamic News Agency (MINA) quoted Antara news agency as reporting.

The Indonesia Stock Exchange (IDX) data showed that 206 stocks increased in value on Friday, 85 stocks fell and 79 stocks remained unchanged.

The last day of the trading week saw 6.54 billion shares change hands with a transaction value of Rp 6.54 trillion.

On the other hand, he added, the government’s step to announce further economic policy package containing policies to ease the requirements for companies wanting to expand and good performance of state-owned banks in the third quarter of 2015 created a positive sentiment for investors.

Technically, he continued, JCI has passed the upper limit level at 4,619 points, a fairly positive signal for domestic stock market.

“Furthermore, JCI is expected to reach the next target in the range of 4700-4750 points level,” he said. (T/R07/R01)

Mi’raj Islamic News Ageny (MINA)