IHSG opens higher prior to announcement of MK's ruling

IHSG opens higher prior to announcement of MK's ruling

Mobile Brigade (Brimob) personnel ready to offer security as the Constitutional Court's ruling on the presidential election dispute is scheduled to be announced on Thursday (ANTARA FOTO/Nova Wahyudi/hp).

Jakarta (ANTARA) - The composite share price index (IHSG) of the Indonesia Stock Exchange (BEI) strengthened on Thursday morning before the announcement of the Constitutional Court's (MK's) ruling on the presidential election dispute later in the day.   
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The IHSG rose 14.2 points, or 0.23 percent, to 6,324.69. The index of the 45 most liquid stocks moved up 3.37 points, or 0.34 percent, to 1,004.51.

Valbury Sekuritas chief researcher Alfiansyah remarked on Thursday that one of the external sentiments is global uncertainty, especially over the US-China trade war, that may result in Indonesia's economic growth failing to meet the target.

"The other is uncertainty over the announcement of the Constitutional Court's ruling on the presidential election dispute this week," he pointed out.

To make matters worse, the global market came under pressure after the US shares weakened, though only on Wednesday (June 26, 2019), he stated.

"The buildup of negative sentiments may make it difficult for the IHSG to come out of the red zone during today's share trading," he explained.

Asian regional markets that strengthened on Thursday morning comprised Nikkei, climbing 139.41 points, or 0.66 percent, to 21,226; the Hang Seng increasing 174.96 points, or 0.62 percent, to 28,396.94; and the Straits Times Index rising 18.46 points, or 0.56 percent, to 3,319.71.

The MK is set to deliver its ruling on the presidential election dispute on Thursday (June 27) following the convening of the Consultative Meeting of Judges (RPH), MK spokesman Fajar Laksono Soeroso had stated on Wednesday. Related news: MK to give ruling on Subianto's petition on Thursday
Related news: Police step up security arrangements in Constitutional Court building


EDITED BY INE

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