JAKARTA (Yosefardi) – In line with market expectation, Bank Indonesia has today raised again BI Rate to 7.25% from previous 7%, to help protect rupiah from further weakening against the US Dollar.
This will benefit banking sector, then investors were actively collecting banking stocks in past few days.
At this afternoon trade, banking remain got a boost. Bank Tabungan Negara jumped 4.4%, Bank Mandiri climbed 3.12%, Bank Negara Indonesia gained 1.2%, and Bank Panin rose 1.56%.
Bank Rakyat Indonesia meanwhile lost 1.88% on profit taking and Bank Central Asia was traded flat. Composite index inched down 0.02% to 4,348.