Jakarta Index Open Lower In First Trading Day Of 2017

Jakarta (Antara Bali) - The Jakarta composite index (JCI) opened slightly lower  on Tuesday in the opening of the the first trading day of the new year on profit taking.

The index of the Indonesian Stock Exchange (BEI) fell 6.3 points or 0.12 percent to 5,290.39 points.

Analyst of Binaartha Sekuritas Reza Priyambada said market players continued share sales resulting in the price fall.

Market players took profit as the share  prices are relatively good after a high price hike toward the end of last year, Reza said.

However, the price fall would not dent the optimism of investors  of the fundamental of stock exchange industry as the country's economy still performed relatively well, he said.

"The government's tax amnesty policy would still give positive sentiment for the market. The policy is seen as strengthening the state revenues that could be used to finance infrastructure development," he said.

In addition, optimism is high that the country's economy would improve in 2017 with the stable inflation, effective realization of policies , improve infrastructure , expected increase in exports  and imports , and improve welfare of the people  that would contribute to growth of the country's gross domestic product, he said.

Vice President of Research and Analysis Valbury Asia Securities Nico Omer Jonckheere  said the JCI is highly potential to rebound again after the release advanced countries's economic data,  which are predicted to improve.

Regional markets such as Hang Seng of Hong Kong, KOSPI of South Korea  and Straits Times of Singapore recorded gain. (WDY)