"BEI index is in the phase of consolidation while external sentiment tends to be negative," chief researcher of Woori Korindo Securities Indonesia Reza Priyambada said here on Wednesday.
The index of the Indonesian Stock Exchange (BEI) fell 0.73 point or 0.01 percent to 5,121.57 points with index of 45 most liquid stocks down 0.02 percent to 880.72 points.
Reza said internal sentiment is positive with optimism over the governments commitment to build infrastructure, curbing the JCI downtrend.
He said the possibility of the JCI to rise again is open after the slight fall.
Thanks to intervention by Bank Indonesia rupiah began to gain stability that would contribute to pushing up the JCI.
Meanwhile, a technical team of Mandiri Sekuritas said the government plan to propose revision of the 2015 state budget would help boost economic growth ahead.
It said President Joko Widodos "sea toll road" and basic infrastructure projects are expected to attract foreign investment into Indonesia.
"The projects would double the budget for infrastructure to Rp400 trillion in 2015," it said.
In 09.30 local time, the BEI index reversed rising 15.51 points or 0.3 percent to 5,138.92 points.
Regional markets such as Hang Seng and Straits Times recorded an increase in indices but Nikkei down.(*)
Editor: Heru Purwanto
Copyright © ANTARA 2014
