In my opinion, the market was more enthusiastic about and appreciated the increasingly progressive development of COVID-19 vaccine research.
Jakarta (ANTARA) - The Jakarta Composite Index (IHSG) ended higher on Thursday on the back of optimism regarding the development of a vaccine against COVID-19.

The index of the Indonesian Stock Exchange (BEI) closed 80.67 points higher, or up 1.42 percent, at 5,759.92, while the index of the 45 most liquid stocks (LQ45) fell 17.32 points, or 1.92 percent, to touch 920.78.

“In my opinion, the market was more enthusiastic about and appreciated the increasingly progressive development of COVID-19 vaccine research,” Bina Artha Sekuritas analyst M Nafan Aji Gusta said.

The market also cheered US president-elect Joe Biden's policy to improve the stimulus program, he noted.

In the meantime, a rise in global commodity prices due to demand sent strong signals that the global economy is in the process of a recovery, he observed.

Shortly after opening lower on Thursday, the IHSG strengthened and remained in the green territory until the close of trade.

Stocks in nine sectors rose, led by the infrastructure sector, which rose 1.16 percent, followed by the basic industry and the mining sector, which rose 0.25 percent and 0.18 percent, respectively. However, the agricultural sector contracted 0.09 percent.

Thursday’s trade posted net foreign buys of Rp569.14 billion.

A total of 1,079,166 transactions were recorded on Thursday, with 26.84 billion shares, worth Rp13.44 trillion, changing hands. Meanwhile, 184 shares rose, 271 shares fell, and 168 shares remained unchanged.

In the Asian regional markets, the Nikkei Index climbed 240.45 points, or 0.91 percent, to 26,537.31, the Hang Seng index rose 149.7 points, or 0.56 percent, to 26,537.31, and the Straits Times index climbed 16.62 points, or 0.58 percent, to 2,852.93. (INE)

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Translator: Citro Atmoko/Suharto
Editor: Fardah Assegaf
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