The government`s tax amnesty policy would still give positive sentiment for the market."Jakarta (ANTARA News) - The Jakarta composite index (JCI) opened slightly lower on Tuesday in the opening of the the first trading day of the new year on profit taking.
The index of the Indonesian Stock Exchange (BEI) fell 6.3 points or 0.12 percent to 5,290.39 points.
Analyst of Binaartha Sekuritas Reza Priyambada said market players continued share sales resulting in the price fall.
Market players took profit as the share prices are relatively good after a high price hike toward the end of last year, Reza said.
However, the price fall would not dent the optimism of investors of the fundamental of stock exchange industry as the countrys economy still performed relatively well, he said.
"The governments tax amnesty policy would still give positive sentiment for the market. The policy is seen as strengthening the state revenues that could be used to finance infrastructure development," he said.
In addition, optimism is high that the countrys economy would improve in 2017 with the stable inflation, effective realization of policies , improve infrastructure , expected increase in exports and imports , and improve welfare of the people that would contribute to growth of the countrys gross domestic product, he said.
Vice President of Research and Analysis Valbury Asia Securities Nico Omer Jonckheere said the JCI is highly potential to rebound again after the release advanced countriess economic data, which are predicted to improve.
Regional markets such as Hang Seng of Hong Kong, KOSPI of South Korea and Straits Times of Singapore recorded gain.
(Uu.H-ASG/O001)
Editor: Priyambodo RH
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