Optimism over developments pertaining to COVID-19 vaccine clinical trials, coupled with a rise in Indonesia's foreign exchange reserves, are likely to lend a positive sentiment to the IHSG during today's trade.Jakarta (ANTARA) - The Jakarta Composite Share Price Index (IHSG) opened higher as regional stock markets registered a rise on Tuesday morning.
The index of the Indonesian Stock Exchange (BEI) opened 9.73 points higher, up 0.19 percent, at 5,239.98, while the index of the 45 most liquid stocks (LQ45) increased 0.79 points, or 0.1 percent, to touch 824.79.
"Optimism over developments pertaining to COVID-19 vaccine clinical trials, coupled with a rise in Indonesia's foreign exchange reserves, are likely to lend a positive sentiment to the IHSG during today's trade," according to a report from the Phintraco Sekuritas research team as quoted by Antara on Tuesday.
Domestic market agents will also be heedful of geopolitical tensions between the United States and China and the United Kingdom and European Union.
In the wake of global and domestic sentiments, the IHSG is forecast to hover in a support-resistant span of between 5,200 and 5,350 and tend to close higher during today's trade.
Similarly, market agents will also be closely monitoring bank stocks, especially of those belonging to the BUKU IV category, such as BBRI, BBCA, and BMRI. Bargain hunting on account of the four-day consecutive weakening is projected to strengthen stocks.
Regional markets recorded an increase on Tuesday morning, with the Nikkei Index rising 98.51 points, or 0.43 percent, to reach 23,188.46, the Hang Seng Index increasing 60.96 points, or 0.25 percent, to 24,650.61; and the Straits Times Index strengthening 7.55 points, or 0.3 percent, to 2,518.76.
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Translator: Citro Atmoko/Suharto
Editor: Sri Haryati
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