Jakarta index opens slightly higher, rupiah weakening

Jakarta (ANTARA News) - The Jakarta composite index (JCI) opened on Friday slightly higher at 5,155.58 points .

The index of the Indonesian Stock Exchange (BEI) rose 0.04 points with index of 45 most liquid stock gaining 0.01 points to 872.56 points.

Profit taking is potential under the present market condition, preventing the share price to rise higher, chief researcher of Trust Securities Reza Priyambada said.

The market players are awaiting the decision of the Constitutional Court on presidential election dispute and the address by outgoing President Susilo Bambang Yudhoyono proposing the 2015 draft state budget at a plenary session of the House of Representatives.

Regional markets such as Hang Seng and Straits Times recorded an increase in index , but that of Nikkei declined.

Meanwhile, rupiah fell in value against the US dollar opening at the level of 11,673 on Friday from 11,661 per US dollar earlier.

Market players chose to wait until the president deliver his financial note address, Reza said.

Rupiah, however, is predicted to regain strength to follow the appreciation of the regional currencies of the Philippines, Thailand, and Malaysia , he said.

Financial market analyst Lukman Leong of PT Platon Niaga Berjangka predicted rupiah would follow the international sentiment with minimum domestic sentiment.(*)