Expected increase in foreign exchange reserve and trade balance, would keep the JCI in a positive area."Jakarta (ANTARA News) - The Jakarta composite index (JCI) closed slightly higher on Thursday on investors continuing buying shares though selectively.
The index of the Indonesia Stock Exchange (BEI) rose 2.88 points or 0.05 percent to 5,450.94 points with index of 45 most liquid stock up 0.01 percent to 946.57 points.
Asjaya Indosurya Securities analyst William Suryawijaya said the JCI could stay in positive area sustained by selective buying amid domestic economic data to be released such as foreign exchange reserve expected to increase in February 2015 to follow improvement in trade balance.
"Expected increase in foreign exchange reserve and trade balance, would keep the JCI in a positive area," William said.
Increase in the oil price also contribute to JCI rise with an increase in the prices of energy stocks, he added.
Meanwhile, Senior Fund Manager of BNI Asset Management Hanif Mantiq said part of the share market players were worried over the rupiah condition that continues to sink in value against the US dollar.
However, share investors could still conduct active strategy as the Indonesian economic fundamental is still good as shown in narrowing trade deficit.
Technically, Hanif Mantiq said, as long as the JCI could be kept above the level of 5,300 points, the rising trend would continue that could hit the level of 6,000 points by the end of this year.
There were 206,405 transactions in Thursday trading with 4.20 billion shares valued at Rp4.63 trillion changing hands.
Gainers outnumbered decliners by 154 to 141 shares with 105 shares remaining flat.
Regional markets such as Hang Seng and Straits Times recorded a decline in index with Nikkei gaining.
(Uu.H-ASG/B003)
Editor: Priyambodo RH
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