IHSG strengthens amid correction in Asian markets

IHSG strengthens amid correction in Asian markets

The Indonesian composite index (IHSG) of the Indonesia Stock Exchange (IDX), Jakarta, opened higher on Wednesday (Jan 15, 2020) despite a correction in the Asian stock markets. (ANTARA PHOTO/Hafidz Mubarak A/pras/gtm)

Jakarta (ANTARA) - The Indonesian composite index (IHSG) of the Indonesia Stock Exchange (IDX), Jakarta, opened higher, at 0.76 points, or 0.01 percent, to 6,326.17 on Wednesday in spite of correction in the Asian stock markets.

In the meantime, the index of the 45 most liquid stocks, or LQ45, increased by 0.2 points, or 0.02 percent, to 1,032.51.

Investors will remain buoyant over the positive signal showed by the upcoming US-China trade deal, Valbury Securities Head of Research, Alfiansyah, stated, citing that China's representatives had visited the United States to sign the phase one trade deal on Wednesday (Jan 15).

"The Trump administration has formally removed China from the Treasury Department's currency manipulator list. The IHSG may continue to appreciate during today's trading," Alfiansyah expounded.

On the domestic front, the market awaits the Central Statistics Agency’s release of data of the trade balance for December 2019 scheduled today.

Bank Indonesia is optimistic of the trade balance posting a surplus as indicated by a spike in exports and a drop in imports. However, the country's trade balance recorded a US$1.33 billion deficit in November last year.

In the meantime, regional markets that weakened this evening comprised Nikkei, at 68.69 points, or 0.29 percent, to 23,956.48; Hang Seng Index plunging 34.75 points, or 0.12 percent, to 28,850.39; and the Straits Times Index depreciating 0.98 points, or 0.03 percent, to 3,269.56.

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