IHSG to rebound amid positive sentiment from global markets

IHSG to rebound amid positive sentiment from global markets

Photo Illustration: A trader observed the Indonesian Composite Index in the BNI Treasury Dealing Room, Jakarta. ANTARA FOTO/Dhemas Reviyanto/pras/gtm

Jakarta (ANTARA) - The Indonesian composite index (IHSG) of the Indonesia Stock Exchange (IDX) opened higher at 11.47 points, or 0.19 percent, to 5,963.55, Tuesday morning, and projected to continue strengthening daylong amid the global markets' positive sentiment.

"Positive trends in global markets and the US stock market may push the IHSG to rebound today," Valbury Securities Head of Research, Alfiansyah, noted in Jakarta. He added that the US stock market had grown stronger since earlier this week amid a release season of the company's earnings report.

In the meantime, the index of the 45 most liquid stocks, or LQ45, in the Indonesia Stock Exchange, also climbed 3.36 points, or 0.35 percent, to 971.7.

Despite a positive trend in the global market, investor concerns remained rife over the Coronavirus outbreak that has infected at least 25 countries outside mainland China. Several company representatives canceled some international meetings owing to the outbreak.

While Japan's Nikkei was closed for a holiday, regional markets that rose this morning comprised Hang Seng, climbing 333 points, or 1.22 percent, to 27,574.3, and the Straits Times Index, rising by 25.44 points, or 0.8 percent, to 3,188.59.

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