"The BEI index strengthening on Tuesday was driven also by positive sentiment from the regional markets," analyst Purwoko Sartono said.Jakarta (ANTARA News) - Indonesia`s benchmark stock index closed higher on positive expectation of financial reports of listed companies in the first half of the year.
The Jakarta index rose 88.18 points or 1.88 percent to 4,767.16 points at the close of trading at the Indonesian Stock Exchange. The index of 45 most liquid stock gained 2.59 percent to 798.91 points.
"The BEI index strengthening on Tuesday was driven also by positive sentiment from the regional markets," Panin Sekuritas` analyst Purwoko Sartono said.
Purwoko said the regional markets gained after a statement by the Chinese prime minister that the growth of the world`s second largest economy would not be less than 7 percent.
Continued increase in Indonesian bond yields in the past four days also gave positive sentiment, he said.
The yield of 10-year bonds has reached 7.85 percent from the worst level of 8.3 percent, the yield of 2-year bond improved to 7.16 percent from its worst level of 7.41 percent.
HD Capital`s analyst Yuganur Wijanarko warned of the impact of the rupiah weakening at more than 10,000 per US dollar.
Deeper fall of the rupiah could reverse the market trend, Yuganur said.
The BEI recorded 151,106 transactions with 3.299 shares worth Rp4.859 trillion changing hands on Tuesday.
Gainers outnumbered decliners 194 to 87.
Regional markets such as Hang Seng recorded a 2.33 percent increase in index to 21,915.42 points with Nikkei-225 index up 0.82 percent to 14,778.51 points and that of Straits Times gaining 0.52 percent to 3,250.01 points.(*)
Editor: Heru Purwanto
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