We project the IHSG to likely to continue its upward trend todayJakarta (ANTARA) - The Jakarta Composite Share Price Index (IHSG) can potentially strengthen early this week amid positive trend at the regional stock exchanges.
The Indonesian Stock Exchange (BEI) index rose 9.34 points, or 0.17 percent, to reach 5,356, while the index of the 45 most liquid stocks increased 1.97 points, or 0.23 percent, to touch 849.71.
"We project the IHSG to likely to continue its upward trend today," the Samuel Sekuritas Research Team noted in a report quoted by Antara on Monday.
The US Stock Exchange closed higher, hitting a record high on Friday (Aug 28), fueled by the US Federal Reserve Governor Jerome Powell's speech and the Fed's announcement on the inflation targeting policy.
In the meantime, the price of gold rebounded from a contraction to the tune of US$1,964 per troy ounce, up 1.8 percent as compared to a day earlier.
This week, the US manpower data for August 2020 is worth noting. The US unemployment rate is projected to fall to 9.3 percent in August, from 10.2 percent a month earlier.
US President Donald Trump made assurance that the vaccine for the novel coronavirus disease will be available before November 3, 2020. However, the vaccine, developed by AstraZaneca in the United Kingdom, would apparently be released earlier since its trials will be completed later this month.
The Indonesia Stock Exchange plunged 0.46 percent to 5,346 on the weekend, with foreign investors recording net sales of Rp989.7 billion. However, on a weekly and monthly basis, the IHSG rose 1.3 percent and 4.6 percent respectively.
Regional markets recorded a rise on Monday morning, with the Nikkei Index jumping 417.63 points, or 1.83 percent, to 23,300.28; the Hang Seng Index rising 381.58 points, or 1.5 percent, to 25,803.64; and the Straits Times Index strengthening 16.13 points, or 0.64 percent, to 2,555.76.
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Translator: Citro Atmoko/Suharto
Editor: Fardah Assegaf
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