IHSG extends gains on job creation bill, positive global cues

IHSG extends gains on job creation bill, positive global cues

The index of the Indonesian Stock Exchange (BEI) closed 40.45 points higher, or up 0.82 percent, at 4,999.22 on Tuesday. (ANTARA FOTO/Puspa Perwitasari/wsj)

The market highly appreciated (news of) Trump’s health, which has improved since he was declared positive for COVID-19. The market also hailed the passage of the job creation bill into law
Jakarta (ANTARA) - The Jakarta Composite Index (IHSG) continued its positive trajectory on Tuesday as the passage of the job creation bill into law the previous day and positive global cues lifted investor sentiment.

 

The index of the Indonesian Stock Exchange (BEI) closed 40.45 points higher, or up 0.82 percent, at 4,999.22, while the index of the 45 most liquid stocks (LQ45) rose 9.08 points, or 1.2 percent, to reach 764.16.

 

“The market highly appreciated (news of) Trump’s health, which has improved since he was declared positive for COVID-19. The market also hailed the passage of the job creation bill into law,” Indo Bina Artha Sekuritas analyst M Nafan Aji Gusta Utama said on Tuesday.

 

Data showing improved services PMI in Germany, Britain, and the United States also added to IHSG's gains.

 

“The market is also enthusiastic about the statement agenda of the ECB (European Central Bank) and the Fed (Federal Reserve), and expects an important breakthrough in the QE (quantitative easing) program and monetary stimulus,” Utama said.

 

After opening higher on Tuesday, the IHSG remained in the green until the close of trade.

 

Stocks in eight sectors rose, led by the financial sector, which climbed 1.65 percent, followed by the miscellaneous industry sector and the infrastructure sector, which advanced by 1.25 percent and 1.14 percent, respectively.

 

Meanwhile, stocks in two sectors showed a correction, with the property sector falling 0.81 percent and the consumer sector diving 0.22 percent.

 

Tuesday’s trade posted net foreign sales of Rp263.41 billion.

 

A total of 660,146 transactions were recorded on Tuesday, with 12.89 billion shares, worth Rp7.1 trillion, changing hands. Meanwhile, 281 shares rose, 129 shares fell, and 170 shares remained unchanged.

 

In the Asian markets, the Nikkei Index rose 121.59 points, or 0.52 percent, to 23,433.73; the Hang Seng index climbed 212.87 points, or 0.9 percent, to 23,980.65; and, the Straits Times Index strengthened by 10.16 points, or 0.4 percent, to reach 2,527.39. (INE)


Related news: IHSG opens lower on Tuesday over negative global, domestic sentiments

Related news: Market cheers job creation bill, ends in green


EDITED BY INE

Comments