The Fed is expected to announce continuation of its quantitative easing (QE) , the third phase."Jakarta (ANTARA News) - The Indonesian benchmark stock index rose slightly in the opening trade on Wednesday morning amid minimum new positive sentiment.
Sinarmas Sekuritas` analyst Christandi Rheza Mihardja said here that the market players are still waiting for continuation of US financial stimulus.
The index of the Indonesian Stock Exchange (BEI) was 8.08 points or 0.17 percent higher at 4,652.13 points.
"The Fed is expected to announce continuation of its quantitative easing (QE) , the third phase," Christandi said.
He predicted the BEI index will hover around 4,600-4,685 point on Wednesday.
Trust Securities` chief researcher Reza Priyambada said dwindling trend of the rupiah value against the US dollar serve a negative sentiment to the BEI index.
The Indonesian currency traded at 10,030 per dollar in inter-bank transaction on Wednesday morning weakening from Tuesday`s close of 10,010.
The rupiah lost more value on Bank Indonesia stopping market operation to protect the national currency.
The central bank has spent big on buying rupiah resulting in decline in the country`s foreign exchange reserve.
Regional markets such as Hang Seng posted a 0.04 percent fall in index to 21,304.83 points, with Nikkei-225 index shrinking 0.72 percent to 14,493.98 points and that of Straits Times down 0.28 percent to 3,216.93 points.
(Uu.H-ASG/F001)
Editor: Priyambodo RH
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