IDX opens higher on foreign capital inflows on Friday

IDX opens higher on foreign capital inflows on Friday

(Photos file) - Indonesia Stock Exchange (IDX). (ANTARA FOTO/Puspa Perwitasari)

Jakarta (ANTARA News) - The Jakarta composite index (JSX) opened higher on Friday, Jan 11, on foreign capital inflows to the domestic stock market.

The index of the Indonesian Stock Exchange (IDX) was up 19.25 points, or 0.30 percent, to 6,347.97, and the index of 45 most liquid stocks, or LQ45, rose 4.81 points, or 0.48 percent, to 1,014.44.

Director of Indosurya Bersinar Sekuritas William Surya Wijaya stated that foreign capital inflows were among the factors propping up the IHSG.

"The IHSG has the potential to continue its rally at the end of this week (Jan 11)," he noted.

The good prospects of two-wheeled vehicle sales is one aspect of the data that drew the attention of investors, he pointed out.

"The sales of two-wheeled vehicles is one of the indicators of a bullish economy to which investors in the stock market have positively responded," he remarked.

CSA Research Institute senior analyst Reza Priyambada said the IHSG managed to further increase, although it technically had touched the overbought zone.

"The movement of the IHSG is still able to increase, erasing the forecast of technical reversal," he stated.

He expressed hope that the purchase of stocks would continue to support the IHSG. However, efforts must be made to keep a watch out for profit-taking by capitalizing on the latest situation.

Regional market indexes, including those of Nikkei, rose 174.79 points, or 0.87 percent, to 20,338.60; Hang Seng increased 80.69 points, or 0.30 percent, to 26,602.10; and the Straits Times Index strengthened 19.82 points, or 0.62 percent, to 3,203.33.

Reporting by Zubi Mahrofi
Editing by Suharto