Jakarta index extends gain, rupiah stronger on Thursday

Jakarta index extends gain, rupiah stronger on Thursday

The Indonesian Stock Exchange (BEI). (ANTARA/Widodo S. Jusuf)

Jakarta (ANTARA News) - The Jakarta composite index (JCI) extended gain on Thursday amid big demonstration launched by sympathizers of a presidential candidate seeking to intimidate Constitution Court reading its decision on presidential election dispute, analysts said.

The index of the Indonesian Stock Exchange closed 15.96 points or 0.31 percent higher at 5,206.13 points.

The index of 45 most liquid stocks rose 0.36 percent to 889.66 points.

Asjaya Indosurya Securities analyst William Surya Wijaya said favorable condition at the Constitutional Court despite demonstrators clashing with police not far away from the court, encouraged investors to buy shares.

The share prices fell in early trade as market players were worried by demonstrators in trucks began to stream to the city center closing the Constitutional Court but the prices began to climb as police succeeded in handling the situation.

In addition foreign fund continue to flow into the domestic market, William said.

The BEI recorded foreign net buy at Rp409.72 billion in Thursday trade which recorded 214,037 transactions with 3.74 billioo shares worth Rp4.34 trillion changing hands.

Gainers outnumbered decliners by 163 to 158 shares with 109 shares remaining flat.

Regional markets such as Hang Seng recorded a decline in index but Nikkei and Straits Times gained.

Meanwhile rupiah gained against the US dollar closing at the level of 11,674 per dollar strengthening from earlier level of 11,704 per US dollar.