Jakarta Index Opens Higher

Jakarta (Antara Bali) - The Jakarta composite index (JCI) opened higher on Monday on market optimism of Indonesian economic growth, analysts said.

The index of the Indonesia stock exchange rose 9.83 points or 0.18 percent to 5,409.94 points  with index of 45 most liquid stocks  up 0.30 percent to 943.95 points.

Samuel Sekuritas' analyst Tiesha Narandha Putri said Bank Indonesia cutting its benchmark interest rate (BI rate) from 7.75 to 7.5 percent  last week gave optimism to the market players for the country's economic growth.

The cut in BI rate resulted in an increase in price of major stocks such as bank and property companies . Tiesha said.

However, the performance of plantation  and mining shares remained below expectation because of weak demand for the primary commodities.

He said the rise in the JCI was also attributable to US and European markets strengthening last weekend after the roll over of the repayment of the Greek debts for four months  and improvement of US manufacturing data. (WDY)