JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) opened up 0.84% at 4378 this morning following gains in regional markets.
Asian markets rallied on Wednesday after Turkey stunned investors with a huge hike in interest rates, stirring hopes the drastic action would short-circuit a vicious cycle of selling in emerging markets and revive risk appetite generally, Reuters reported.
The bold move even managed to overshadow the U.S. Federal Reserve’s meeting at which it is widely expected to trim its asset buying program by another $10 billion a month.
Gold rose 0.17% to US$1,252.90 per ounce while Nymex’s crude oil declined 0.29% to US$97.13 per barrel.
In Jakarta bourse, Adaro Energy gained 1.07%, Alam Sutera rose 2%, Bank Mandiri increased 1.2%, Bumi Serpong Damai jumped 3.26%, Lippo Karawaci hiked 1.2%, Perusahaan Gas Negara lifted 1.63%, and Telkom up 1.4%.
Other gainers were Wijaya Karya (+1.08%), Multipolar (+2.18%), and Berau Coal (+2.17%).