Jakarta (Antara Bali) - The Jakarta composite index (JCI) opened higher on Friday on positive expectation of the country's economy.
The index of the Indonesian Stock Exchange rose 6.75 point or 0.13 percent to 5,319.96 points with index of 45 most liquid stocks up 0.19 percent to 929.11 points.
"Positive view given by Standard & Poor's (S&P) on Indonesian economic outlook was one of the drivers of the JCI," Head of Research of Valbury Asia Securities Alfiansyah said.
He said the market optimism of the country's economy would rise with S&P changing the rating of the Indonesia debts to positive from stable with a fixed rate of BB+ (double B plus).
"The rating given by S&P constituted a recognition of the Indonesian economic resilience as a result of policy coordination adopted by the economic authorities," he said.
The positive prospect indicated that the Indonesian debt rating could rise further in 12 months if the government reached the objective goal in increasing the spending quality of the government.
Meanwhile, Technical Analyst of Mandiri Sekuritas Hadiyansyah said the rise of JCI to cross the level of 5,300 point, technically is crucial and vulnerable to correction in short term.
Regional market such as Hang Seng and Straits Times recorded an increase in index , but a decline was recorded by Nikkei. (WDY)
