JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) gained 0.2% to 5461 at opening trade this morning as investors expect the improving economic data.
Today the Central Bureau of Statistics (BPS) is scheduled to release February’s inflation or deflation and export & import data for January 2015.
Bank Indonesia (central bank) predicts 0.2% deflation for February 2015 though rice prices remain high at some cities. The improving supply of rice, supported by the local and central governments, have helped to lower rice prices in some cities.
The adjustment of transportation tariff in some cities was the main factor of deflation last month. Other supporting factors were fuel prices adjustment and the 2015 budget revision.
Asian stocks got off to a steady start on Monday as soft U.S. data was partially offset by a weekend interest rate cut by China, Reuters reported. Nymex’s crude oil rose 2.8% to US$49.76 per barrel in Asian trading this morning and gold increased 0.38% to US$1,213.10 per ounce.
At Jakarta bourse, coal stocks lead market’s gain. Adaro Energy gained 1.59%, Bumi Resources rose 1.1%, Berau Coal increased 1.25%, and Bumi Resources Minerals jumped 7.48%.