The index of the Indonesian Stock Exchange (BEI) closed 65.03 points higher, or up 1.05 percent, at 6,264.68, while the index of the 45 most liquid stocks (LQ45) rose 11.34 points, or 1.22 percent, to touch 939.2.
"The IHSG strengthened after closing lower for four consecutive days. Hence, there were several (positive) sentiments, including investors' easing concern, after yields on the 10-year US treasury bonds were corrected," Foster Asset Management analyst Hans Mulyadi Irawan stated in Jakarta on Wednesday.
However, the market tended to move sideways while awaiting the release of US inflation data on Wednesday, the outcome of the Federal Open Market Committee (FMOC) meeting, and COVID-19 stimulus worth US$1.9 trillion next week, he remarked.
After opening higher, the IHSG remained in the green during the first and second sessions until it closed higher.
Related news: IHSG opens positive on strong global cues
Based on the IDX-IC Sectoral Index, stocks in nine sectors rose, led by the transportation and logistics sector, which rose 2.49 percent; followed by the infrastructure sector and the property sector that increased 2.11 percent and 1.77 percent respectively.
However, stocks in two sectors that recorded a correction were the industrial sector and the technological sector that fell 1.48 percent and 0.34 percent, respectively.
Tuesday’s trade posted a net foreign purchase of Rp322.86 billion.
A total of 1,101,031 transactions were recorded on Wednesday, with 20.62 billion shares, worth Rp10.23 trillion, changing hands. Meanwhile, 236 shares rose, 243 shares fell, and 149 shares remained unchanged.
In the Asian regional markets, the Nikkei Index rose 8.62 points, or 0.03 percent, to 29,036.56; the Hang Seng index climbed 134.29 points, or 0.47 percent, to 28,907.52; and the Straits Times index plunged 28.81 points, or 0.93 percent, to 3,079.72. Related news: IHSG ends higher ahead of Biden inauguration