IHSG strengthens in run up to year-end holidays

IHSG strengthens in run up to year-end holidays

An employee observed the movement of the Composite Stock Price Index (JCI) in Indonesia Stock Exchange. (ANTARA FOTO/Puspa Perwitasari/wdy)

Jakarta (ANTARA) - The Indonesia composite share price index (IHSG) of the Indonesia Stock Exchange (BEI) strengthened at opening here, today, few days ahead of the year-end holidays.

The IDX increased 2.13 points, or 0.03 percent, to 6,321.57. Meanwhile, the index of the 45 most liquid stocks, or LQ45, rose by 0.1 points, or 0.01 percent, to 1,021.66.

"Only two days left for transactions before the stock market is closed in 2019. Global market sentiments, mainly for US stocks, strengthened on Thursday and sent positive signals to the IHSG to reenter the green zone today," Valbury Securities Head of Research Alfiansyah stated in Jakarta, Friday.

Following positive signals, China's government increased its trade with countries in East Asia in an effort to curb risks over the US trade war.

On the other hand, the Indonesian government recently officially launched the 30 percent blended biodiesel (B30) program this week that targeted to cut deficits in the country's balance of trade.

President Joko Widodo claimed the measure may save Indonesia's foreign exchange expenditure by Rp63 trillion (US$4.5 billion).

Regional markets that weakened this afternoon comprised Nikkei, plunging 10.92 points, or 0.05 percent, to 23,914, while the Hang Seng Index strengthened 299.78 points, or 1.08 percent, to 28,163.99; and the Straits Times Index rose 5.18 points, or 0.16 percent, to 3,228.17. (INE).

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