JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) ended higher 1.74% at 4417 on Wednesday (Jan 29) in line with regional markets with Japan’s Nikkei gaining 2.7%.
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.
In Jakarta bourse, investors buying shares of banking, property and infrastructure. For banking, Bank Mandiri jumped 5.14%, Bank Rakyat Indonesia rose 1.5%, and Bank Negara Indonesia gained 0.9%.
Among property stocks, Alam Sutera hiked 4%, Bumi Serpong Damai surged 5.8%, and Lippo Karawaci lifted 2.14%.
For infrastructure, Waskita Karya gained 4.85%, Wijaya Karya lifted 3.76%, and Adhi Karya climbed 3.79%.
Other gainers were Adaro Energy (+2.14%), BW Plantation (+2%), London Sumatra (+2.14%), Kalbe Farma (+1.07%), Perusahaan Gas Negara (+3.48%), and Telkom (+3.72%).
Nymex’s crude oil declined 0.27% to US$97.15 per barrel while gold rose 0.15% to US$1,252.70 per ounce. The rupiah strengthened to Rp12,154 against the US Dollar.