Inflation is expected to remain low despite the recent rice price hike ..."Jakarta (ANTARA News) - The Jakarta composite index (JCI) closes 0.52 percent higher on Friday on positive expectation of the countrys economy.
The index of the Indonesian Stock Exchange rose 28.05 points to 5,396.85 with index of 45 most liquid stocks up 0.59 percent to 937.50 points.
Asjaya Indosurya Securities analyst William Surya Wijaya said positive expectation of the countrys macro economic data to be announced next week is one of the triggers pushing up the JCI in this last weekend trade.
"Inflation is expected to remain low despite the recent rice price hike and the government response to restore market stability is considered positive," he said.
Meanwhile, the countrys trade balance is expected to be favored with a surplus although not very significant as shown by a number of data such as an increase in the countrys foreign exchange reserve.
Reza said a number of listed companies including state companies reported improvement in their financial performance, prompting investors to enter the domestic market and to buy shares.
"In addition to fundamental factor , technical factor also contributed to pushing up the JCI. After share price fall, market players began to buy shares resulting in the price hike," he said.
Meanwhile, regional markets also give positive sentiment, he added.
Trade at BEI on Friday recorded 178,345 transactions with 3.35 billion shares valued at Rp4.37 trillion changing hands.
Gainers outnumbered decliner by 186 to 111 shares with 96 shares flat.
Regional markets such as Hang Seng and Nikkei recorded a decline in indices but Straits Times recorded gain.
(Uu.H-ASG/H-YH)
Editor: Priyambodo RH
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