President hopes IDX increase can support real economic sector

Jakarta (ANTARA News) - President Joko Widodo expressed hope that the increase of Indonesia Composite Index (IDX) to level of 6000 can support the real economic sector.

"We hope that the money not only forms a portfolio but also supports the real economic sector such as micro, small, and medium enterprises, so that they too can enjoy the benefits," Widodo said in his speech, during the opening of National Meeting of All-Indonesia Federation of Buddhist Organizations here, on Thursday.

He hoped that the increase could last up to the higher level.

Previously, last Wednesday, Indonesias share price index made a new record by closing above 6000 points.

The IDX index strengthened by 73.35 points, or 1.23 percent, to 6.025.43; while the LQ45 blue chip index was up by 11.79 points, or 1.19 percent, to close at 995.93.

The achievement was the highest record in 2017, following investors optimism over construction and cement producers stocks, which are increasing, Reliance Sekuritas analyst Lanjar Nafi stated.

Nafi remarked that the strengthening of the shares in the budget will go into law, with state expenditures standing at Rp2,220.7 trillion.

Indonesia, under the leadership of Jokowi, is boosting the construction of infrastructures in several provinces, including Papua, Sumatra, Sulawesi as well as Kalimantan areas.

Several infrastructures are constructed, including ports, toll roads, airports, and railways, which aim to improve the logistics connectivity and lower the prices of commodities for daily living in remote areas. (*)