However, the external sentiment is highly volatile."Jakarta (ANTARA News) - The Jakarta composite index (JCI) closed higher on Thursday on market optimism with economic policy package to be announced by the government.
The index of the Indonesian Stock Exchange (BEI) rose 31.82 points or 0.72 percent to 4,433.11 points with 45 most liquid stocks up 0.94 percent to 753.17 points.
"The market is optimistic that the government would announce soon an economic policy package. Investors began to collect shares especially shares of construction companies," chief researcher of Universal Broker Indonesia Satrio Utomo said.
Satrio said the market believed that the government is still focused on and pushing for infrastructure development.
The increase in the JCI was also attributable to the fact that indexes of the majority of global market are in positive area.
"However, the external sentiment is highly volatile," he said, advising investors to be cautious in taking position.
Chief researcher of NH Korindo Securities Indonesia Reza Priyambada market players took advantage of low share prices after earlier pressure.
In addition, investors are encouraged to buy shares on expectation of positive economic data to be announced by the government next week, Reza said.
Trade on Thursday recorded 189,268 transactions with 4.42 billion shares worth Rp3.60 trillion changing hands.
Gainers outnumbered decliners by 184 to 85 shares with 90 shares flat.
Regional markets such as Hang Seng recorded a declined in index with Nikkei and Straits Times gaining.
(Uu.H-ASG/B003)
Editor: Priyambodo RH
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