JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) opened higher 0.53% to 5371 this morning as investors continue buying local stocks. Adaro Energy gained 1%, Bank Central Asia rose 1.26%, and Telkom increased 1.73%.
Asian shares gained on Friday on news of a ceasefire accord in Ukraine, and hopes Greece will strike a debt accord with the Eurozone. Nymex’s crude oil declined 0.2% to US$51.10 per barrel in Asian trading this morning while gold rose 0.35% to US$1,225 per ounce.
The government and the Lower House of Representatives (DPR) had on early morning Friday agreed to set deficit at Rp222.5
trillion or 1.9% of the gross domestic product (GDP) for this year’s revision budget, lower than Rp225.9 trillion set
earlier on the budget.
For the macroeconomic indicators, the government and DPR agreed to set 5.7% economic growth target for this year, 5%
inflation, Rupiah at Rp12,500/dollar, government’s bond coupon at 6.2% (for 3 months tenor), Indonesian Crude Price (ICP)
at US$60 per barrel, oil lifting 825,000 barrels per day and gas lifting 1.22 million barrels (oil equivalent) per day.
Foreign investors continued buying local stocks on expectation over better economic growth for the country. Yesterday,
they booked net buy of Rp942.3 billion in local stocks, then year to date, their net buy reached Rp4.87 trillion.