Jakarta (Antara Bali) - The Jakarta Composite Index (JCI) opened higher on Friday with market players buying shares taking advantage of falling price earlier this week.
The index of the Indonesian Stock Exchange (BEI) rose 18.10 points or 0.33 percent to 5,457.93 points with index of 45 most liquid stocks up 0.48 percent to 949.62.
Chief researcher of NH Korindo Securities Indonesia Reza Priyambada said the market players bought shares, which fell in prices earlier. "JCI fell in the process of consolidation after peaking at 5,514 points on March 6 . The market players bought the shares that shrank in price," Reza said.
In addition the majority markets in the region gained adding positive sentiment to the domestic market, he said. He said the positive signal is expected to push up the JCI higher.
Samuel Sekuritas' analyst Akhmad Nurcahyadi despite shrinking value of rupiah , the JCI continued to gain. Meanwhile, in interbank transaction on Friday morning lost more value against the US dollar trading at the level of 13,184 from earlier level of 13,150 per dollar.
Reza Priyambada said the US dollar is still gaining over the majority currencies in the world including rupiah. "Rupiah has not shown signs of improvement with demand for dollar remaining high," he said. However, the government's assurance that the country still has good economic fundamental and would grow as expected helped prop up rupiah. (WDY)
