Analyst Benedictus Agung said the market players are still awaiting the announcement of third quarter GDP, which is expected to grow 5.5 percent.
Jakarta (ANTARA News) - The Jakarta composite share price index rose lightly in the opening trade on Wednesday morning ahead of the announcement of data of the countrys Gross Domestic Product (GDP)

The index of the Indonesian Stock Exchange opened 5.53 points or 0.13 percent higher at 4,428.82 points with the index of 45 most liquid stocks up 0.19 percent to 739.65 points.

Samuel Sekuritas analyst Benedictus Agung said the market players are still awaiting the announcement of third quarter GDP, which is expected to grow 5.5 percent.

"The BEI index moved levelly with tendency to rise slightly," Benedictus said.

He said profit taking is expected by investors holding plantation stocks after the crude palm oil price rally.

Head of Research Asia Valbury Securities, Alfiansyah said the government is expected to announce data of the countrys GDP later on the day .

In addition, central bank is expected to announce its decision on benchmark interest rate (BI rate) on Nov. 12, Alfiansyah said.

"The sentiments vary . The BEI index is predicted to fluctuate with greater possibility of a rebound on technical support," he said.

Regional markets such as Hang Seng recorded a 0.06 percent fall in index to 23,025.50 points with Nikkei-225 index edging 0.15 percent lower at 14,204.68 points and that of Straits Times down 0.02 percent to 3,205.22 points.

Meanwhile, rupiah in interbank transaction was flat trading at the level of 11,340 per US dollar in the first minute of trading on Wednesday.

Trust Securities chief researcher Reza Priyambada said the market players expected positive sentiment from GDP data to be announced later on the day .

However, the deficit recorded in the country trade balance still rendered negative sentiment on rupiah.

External factors including better than expected US manufacturing data could put the US dollar to be on the rise weakening rupiah, he said.

"The US dollar is rising over the majority of the world currencies with the market expectation of tapering off to come earlier," he said.(*)

Editor: Heru Purwanto
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