Jakarta (Antara Bali) - The Jakarta composite share price index extended gain on Friday morning on expectation that Chinese economic data would improve in the third quarter.
The index of the Indonesian Stock Exchange opened 8.22 points or 0.19 percent higher at 4,527.96 points with index of 45 mots liquid stocks up 0.14 percent to 763.31 points.
Samuel Sekuritas' analyst Benecditus Agung said here Asian market including BEI recorded gain in index on expectation that China would post stronger economic growth.
Chinese economic growth is estimated to rise to 7.8 percent from 7.5 percent in the previous quarter this year, Benedictus said.
"The expectation is strong enough to shore up Asian market this morning ," he said.
He said the market gain was also driven by expectation that The Fed would postpone its monetary stimulus tapering to make up for the economic slowdown as a result of partial US government shutdown.
He predicted that BEI index would rise further to the level of 4,550 point at the close of this weekend trade.
A team of technical analysts from Mandiri Sekuritas said the BEI index still has the potential to climb higher to the level of 4,546--4,573 points.
Regional markets such as Hang Seng posted a 0.81 percent increase in its index to 23,282.44 points with Nikkei-225 index up 0.08 percent to 14,597.31 points and that of Straits Times gaining 0.29 percent to 3,195.97 points .
Meanwhile rupiah also gained 200 points against the US dollar with market players expecting The Fed to continue its monetary stimulus.
Rupiah traded at the level of 10,950 per dollar in the first minuets of trading on Friday gaining from the level of 11,150 earlier. (*/DWA)
