Several corporate actions of state-owned enterprises to conduct consolidation, including the merger of sharia banks, drew a positive response from investors.
Jakarta (ANTARA) - The Jakarta Composite Index (IHSG) ended higher on Wednesday on the back of investors' positive assessment of corporate actions by state-owned enterprises.

The index of the Indonesian Stock Exchange (BEI) closed 43.52 points higher, up 0.85 percent, at 5,176.09, while the index of the 45 most liquid stocks (LQ45) rose 12.72 points, or 1.62 percent, to touch 796.27.

"Several corporate actions of state-owned enterprises to conduct consolidation, including the merger of sharia banks, drew a positive response from investors," PT Foster Asset Management President Director Andreas Yasakasih stated here on Wednesday.

Moreover, the plan of several state-owned companies to set up a holding company to produce electric vehicle batteries also added to the positive sentiment for the capital market, he noted.

Speaking in connection with the macroeconomic sentiments, Yasakasih opined that the nation’s economic performance would improve in the third quarter of 2020 as compared to that witnessed in the earlier quarters

The holding company, initiated by MIND ID, through state mining company PT Aneka Tambang Tbk, will also include state oil and gas firm PT Pertamina and state electricity company PT Perusahaan Listrik Negara (PLN).

Wednesday's trade posted net foreign sales of Rp58.58 billion.

A total of 918,415 transactions were recorded on Wednesday, with 14.43 billion shares, worth Rp12.16 trillion, changing hands. Meanwhile, 213 shares rose, 217 shares fell, and 161 shares remained unchanged.

In Asian regional markets, the Nikkei Index rose 24.91 points, or 0.11 percent, to 23,626.73; the Hang Seng Index increased 17.41 points, or 0.07 percent, to 24,667.09; while the Straits Times Index shed 11.63 points, or 0.45 percent, to 2,556.02. Related news: IHSG extends gains on job creation bill, positive global cues
Related news: Market cheers job creation bill, ends in green





Translator: Zubi Mahrofi/Suharto
Editor: Rahmad Nasution
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