Jakarta Index Up Despite Rupiah Fall

Jakarta (Antara Bali) - The Jakarta composite index (JCI) opened higher on Friday despite rupiah fall in value.

The index of the Indonesian Stock Exchange rose 25.29 points or 0.49 percent  to 5,175.78 points  with index of 45 most liquids stocks  up 0.72 percent 896.47 points.

"Despite negative domestic sentiment improvement in global market reduced pressure  on the domestic market,  Head of Research of  Valbury Asia Securities Alfiansyah said. He said an increase in share prices in the US market, has positive impact on Asian markets .

From Europe, Greece was reported to have paid 200million euro to service its debt to IMF, which is  due on May 12 this year. "Its expected negotiations would reach an agreement on Greek loan," he said.

In Indonesia, expectation is high that the economy would improve  after the chief economics minister guarantees that the  budget for infrastructure projects could be disbursed  in the second quarter of this year. "The market players, however, would still see the impact on the economy in the second quarter," he said.

Regional markets such as  Hang Seng, Nikkei and Straits Times recorded an increase in indices. Meanwhile the country's currency rupiah lost more value in the first minutes of trading on Friday. The currency traded at the level of 13,170 per US dollar from earlier level of 13,146 per dollar.

The dollar gained on improvement in US data of consumer credits, economist from Samuel Sekuritas Rangga Cipta said . The data indicates  improvement in the US economy. In Indonesia, the central bank increasing  dollar supply in the market did not help much to protect rupiah from diving deeper. (WDY)