Jakarta index closes higher

Jakarta (ANTARA News) - The Jakarta composite index (JCI) closed higher on Friday amid profit taking by foreign investors, analysts said.

The index of the Indonesian Stock Exchange (BEI) rose 10.67 points or 0.21 percent to 5,143.71 points with index of 45 most liquid stocks up 0.13 percent to 870.11 points.

Analyst from the Indonesian Securities Association Reza Priyambada said big purchases of shares sharply falling in price on Thursday propped up the JCI.

"Domestic investors recorded a net buy while foreign investors were selling shares," Reza said.

Based ion data at BEI, foreign investors recorded a net sell of Rp776.426 billion on Friday.

Meanwhile rupiah was relatively stable though tending to gain over the US dollar. In addition, the majority of regional markets recorded gain adding to the positive sentiment on the domestic market.

HD Capitals analyst Yuganur Wijanarko said the buying action by domestic investors could offset profit taking by foreign investors.

"Technically the JCI has the potential to continue to be on the rise to a higher level at 5,187 points," Yuganur said.

Trade on Friday was recorded with 200,073 transactions and 3.43 billion shares worth Rp4.23 trillion changing hands.

Gainers outnumbered decliners by 157 to 150 shares with 101 shares flat.

Regional markets such as Hang Seng recorded a decline in index but Nikkei and Straits Times recorded an increase.(*)

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