Year-on-year inflation of 7.8 percent in February was still better than market expectation."Jakarta (ANTARA News) - The Jakarta composite index opened higher on Wednesday on favorable external sentiment, analysts said.
The index of the Indonesian Stock Exchange (BEI) opened 19.94 points or 0.43 percent higher at 4,621.12 points with index of 45 most liquid stocks up 0.66 percent to 777.63 points.
Head of Research of Valbury Asia Securities, Alfiansyah, said the US stock market rebounded in Tuesday night trading after easing tension in Ukraine.
The trend in the US market was followed by an increase in the indexes of Asian market including BEI index, he said.
Meanwhile domestically healthy performances shown in the financial report of most traded companies contributed to the BEI index rise, he said.
Kresna Securities analyst Etta Rusdiana Putra said healthy growth recorded by traded companies will still provide a boost to the domestic market.
"Year-on-year inflation of 7.8 percent in February was still better than market expectation. In addition, a survey shows the countrys manufacturing sector is expanding," he said.
Regional markets such as Hang Seng posted a 0.24 percent increase in index to 22,711.22 points with Nikkei index up 1.51 percent to 14,945.01 and that of Straits Times gaining 0.15 percent to 3,109.28 points.
(Uu.H-ASG/F001)
Editor: Priyambodo RH
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