JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) ended higher 0.7% at 4993 Thursday (October 9), but closed off its high. The index moved at range of 4992-5014.
Regional markets also mostly closed in green following reassurance that the U.S. Federal Reserve would not raise interest rates anytime soon but a stronger yen weighed on Japanese shares.
In Jakarta bourse, most investors opted to collect back local stocks after recent falls as they expect a strong government would match strong legislative/opposition. It is time to buy local stocks, especially those currently valued below their equities.
Bank Central Asia gained 2%, Bank Rakyat Indonesia rose 1.49%, Bank Negara Indonesia, increased 2.37%, Bumi Serpong Damai hiked 3.81%, BW Plantation lifted 1.24%, and Lippo Karawaci jumped 4.92%.
Other gainers were Waskita Karya (+3.68%), Wijaya Karya (+3.6%), Multipolar (+2.6%), and Visi Media (+2.33%).
Nymex’s crude oil rose 0.55% to US$87.79 per barrel and gold increased 1.68% to US$1,226.30 per ounce. The rupiah strengthened to Rp12,190 against the US dollar.