JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange ended higher 0.92% at 4966 Wednesday (May 14) with market’s sentiment boosted by expectation of a shorter period of political uncertainty.
Investors traded in local stocks with heavy volume as more signals point to one-round of presidential election in July 9. The latest political development also indicates only two horses (Jokowi and Prabowo) will enter the presidential race.
Astra International gained 2.02%, Jababeka rose 2.68%, Kalbe Farma climbed 3.55%, and Telkom increased 1.69%.
Property and banking stocks were also focus of buying. Alam Sutera rose 1.89%, Bumi Serpong Damai lifted 1.27%, and Lippo Karawaci rose 1.8%.
Among banking stocks, Bank Rakyat Indonesia jumped 5.22%, Bank Negara Indonesia increased 1.85%, and Bank Mandiri hiked 2.48%.
Other gainers were Waskita Karya (+1.29%), Wijaya Karya (+2.35%), Pakuwon Jati (+2.33%), and Hanson International (+3.25%).
Nymex’s crude oil rose 0.45% to US$102.16 per barrel and gold increased 0.54% to US$1,301.80 per ounce. The rupiah also strengthened to Rp11,487 against the US dollar.