Jakarta index closes higher on Friday

Jakarta index closes higher on Friday

Phoo document of the Indonesian Stock Exchange (BEI). (ANTARA/OJT/Kornelis Kaha)

Jakarta (ANTARA News) - The Jakarta composite index (JCI) closed higher on Friday to follow the trend of the global market, analysts said.

The index of the Indonesian Stock Exchange (BEI) rose 30.69 points or 0.61 percent to 5,089.54 points with the index of 45 most liquid stocks up 0.89 percent to 868.05 points.

Director of Investment of PT Valbury Asia Asset Management Andreas Yasakasih said the JCI is following the trend of the global market.

The positive sentiment came from Japans Central Bank that increased its financial stimulus offsetting the negative sentiment with the end of bond buying program of the US Central Bank, the Fed, Andreas said.

In addition, the announcement by the Indonesian government that it would raise the price of subsidized oil fuel was positively responded by the market, he said.

"There would be turbulence , but it is short term problem . The long term impact would be good for the economy that the market reacted positively," he said.

Trade on Friday was recorded with 198,063 transactions and 3.23 billion shares worth Rp4.79 trillion changed hand.

Gainers outnumbered decliners by 184 to 135 with 93 shares remaining in changed.

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