IHSG strengthens as US-Iran tensions mollify

IHSG strengthens as US-Iran tensions mollify

Photo Illustration: Traders observed the Indonesia composite index (IHSG) at the Indonesia Stock Exchange (IDX), Jakarta. ANTARA FOTO/Rendhik Andika/gtm

Jakarta (ANTARA) - The Indonesian composite index (IHSG) of the Indonesia Stock Exchange (IDX), Jakarta, opened higher on Thursday, as tensions appeared to ease between the United States and Iran.

The IHSG increased 22.98 points, or 0.37 percent, to 6,248.66. In the meantime, the index of the 45 most liquid stocks, or LQ45, rose by 0.64 points, or 0.6 percent, to 1,011.49.

In spite of the stock market's positive response, a conflict between the United States and Iran continues to pose a threat to stability and security in the region, Valbury Securities Head of Research Alfiansyah stated in Jakarta.

However, the US stock market strengthened during Wednesday's closing after US President Donald Trump announced that Iran's missile attack led to no casualties to American nationals.

Meanwhile, on the global front, Indonesia's official reserve assets through end of December 2019 were recorded at US$129.2 billion, rising from $126.6 billion, as of end-November last year.

"The reserve assets may maintain stability in terms of the country's financial system," Alfiansyah stated.

In the meantime, regional markets that strengthened this evening comprised Nikkei, increasing 424.59 points, or 1.83 percent, to 23,629.35; Hang Sex Index rising 294.83 points, or 1.05 percent, to 28,382.75; and the Straits Times Index appreciating 10.2 points, or 0.31 percent, to 3,256.09.
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