Jakarta (Antara Bali) - The Jakarta composite index (JCI) extended gains opening higher on Wednesday mainly on external factor with the crude price fall, analysts said.
The index of the Indonesian Stock Exchange rose 4.46 points or 0.09 percent to 5,180,26 points with index of 45 most liquid stocks up 0.14 percent to 895.12 points.
"Positive external factor catalyzed the JCI to extend gain," Head of Research of Valbury Asia Securities Alfiansyah said .
Alfiansyah said the falling price of crude oil in the world market to US$69.01 per barrel is expected to improve the country's foreign trade performance in the next several months.
He said the government is expected to discuss the crude oil price fall and its effect on the oil fuel (BBM) subsidy budget until the end of the year.
The market would be waiting for the government subsidy policy following the price fall, he added.
In addition, the share price increase in the US market also serves a positive sentiment for Asian market including BEI, he said.
HD Capital's analyst Yuganur Wijanarko Indonesian economic data released by the Central Bureau of Statistics on Monday still had positive sentiment for the domestic market.
"Among the positive catalysts are the trade surplus and the inflation rate that fell below expectation of 2 percent," Yuganur said.
Regional markets such as Hang Seng, Nikkei and Straits Times recorded gain in indices on Wednesday morning.
Meanwhile, rupiah, in interbank transactions gained over the US dollar in the opening trade on Wednesday .
The currency traded at the level of 12,257 per dollar from earlier level of 12,260 per dollar.
Chief researcher of Monex Investindo Futures Ariston Tjendra said improving trend of Indonesian external trade served a positive sentiment for the currency.
Ariston said the improvement in the country's trade balance toward the end of 2014 would contribute positively to the performance of the country's current account balance in the last quarter of 2014.
Bank Indonesia predicted that the improvement of the country's trade balance supported by an increase in export and falling price of crude oil in the global market would reduce the pressure on the deficit in the oil trade balance.
However, the rupiah movement would remain limited to follow the growing jobs in the United States and dollar strengthening with the oil price fall. (WDY)
COPYRIGHT © ANTARA News Bali 2014
The index of the Indonesian Stock Exchange rose 4.46 points or 0.09 percent to 5,180,26 points with index of 45 most liquid stocks up 0.14 percent to 895.12 points.
"Positive external factor catalyzed the JCI to extend gain," Head of Research of Valbury Asia Securities Alfiansyah said .
Alfiansyah said the falling price of crude oil in the world market to US$69.01 per barrel is expected to improve the country's foreign trade performance in the next several months.
He said the government is expected to discuss the crude oil price fall and its effect on the oil fuel (BBM) subsidy budget until the end of the year.
The market would be waiting for the government subsidy policy following the price fall, he added.
In addition, the share price increase in the US market also serves a positive sentiment for Asian market including BEI, he said.
HD Capital's analyst Yuganur Wijanarko Indonesian economic data released by the Central Bureau of Statistics on Monday still had positive sentiment for the domestic market.
"Among the positive catalysts are the trade surplus and the inflation rate that fell below expectation of 2 percent," Yuganur said.
Regional markets such as Hang Seng, Nikkei and Straits Times recorded gain in indices on Wednesday morning.
Meanwhile, rupiah, in interbank transactions gained over the US dollar in the opening trade on Wednesday .
The currency traded at the level of 12,257 per dollar from earlier level of 12,260 per dollar.
Chief researcher of Monex Investindo Futures Ariston Tjendra said improving trend of Indonesian external trade served a positive sentiment for the currency.
Ariston said the improvement in the country's trade balance toward the end of 2014 would contribute positively to the performance of the country's current account balance in the last quarter of 2014.
Bank Indonesia predicted that the improvement of the country's trade balance supported by an increase in export and falling price of crude oil in the global market would reduce the pressure on the deficit in the oil trade balance.
However, the rupiah movement would remain limited to follow the growing jobs in the United States and dollar strengthening with the oil price fall. (WDY)
Editor : I Gusti Bagus Widyantara
COPYRIGHT © ANTARA News Bali 2014