The IHSG index closed at 4,509.60, or rose 1.43 percent, while the index of the LQ 45 blue chips rose 13.74 points, or 1.82 percent to reach 770.81.
Kiswoyon Adi Joe, an analyst from Investa Saran Mandiri, stated that foreign players had resumed buying shares at the BEI, which led to the IHSG again moving in the positive direction.
"It is hoped that the foreign players would continue to buy stocks. Moreover, the national economic conditions are still quite positive," he affirmed.
Foreign buyers made a net buying worth Rp313.069 billion on Monday, according to the BEI data.
Kiswoyon noted that the capital market regulators policy to allow issues to conduct buyback also contributed to boosting the share prices.
"The regulation permits market players to conduct buying," he stated.
He remarked that the planned meetings between Director of the International Monetary Fund Christian Lagarde and President Joko Widodo along with other officials were expected to serve as a reference for Indonesia in anticipating the global economic slowdown.
Asjaya Securities analyst William Surya Wijaya noted that technically, the IHSG would still continue to move towards the 4,579 level, but he hoped the level would really be reached to strengthen the rising trend pattern in the short term.
"The potential for the IHSG to rise is still quite huge following the continued flow of foreign funds into the capital market," he said.
The BEI recorded 277,633 transactions, with a total of 4.31 billion shares worth Rp5.11 trillion changing hands.
A total of 183 shares strengthened, while 115 others weakened, and 80 shares remained stagnant.(*)
Editor: Heru Purwanto
Copyright © ANTARA 2015
