Jakarta index closes higher on Thursday

Jakarta index closes higher on Thursday

. ANTARA FOTO/Sigid Kurniawan/foc.

Jakarta (ANTARA News) - The Jakarta composite index (IHSG) closed 55.94 points higher on Thursday on less sentiment of uncertainty after the Fed raising its fund rate, analysts said.

The index of the Indonesian Stock Exchange rose 0.95 percent to 5,929.21 points with the index of 45 most liquid stock up 1.37 percent to 938.21.

Chief researcher of Narada Aset Manajemen Kiswoyo Adi Joe said the IHSG strengthened as the Fed policy was already anticipated by the market players reducing uncertainties.

"The policy of the Fed was already taken into account by investors in the country," Kiswoyo said.

The Fed raised its fund rate by 25 basis points and the move was followed by Bank Indonesia also with a 25 basis point rise to 5.75 percent, which was positively responded by the market, he said.

However, sell-off by foreign investors put a brake on further increase of the IHSG. Based on data from BEI, there was a foreign net sales of Rp73.73 billion on Thursday.

Trade frequency was 349,083 transactions with 11.64 billion shares valued at Rp8.26 trillion changing hands. There were 185 gainers, 156 losers and 150 unchanged.

Regional markets including Nikkei, Hang Seng and Strait Times recorded a decline index.

Reporting by Zubi Mahrofi
Editing A Saragih , Yoseph

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