JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) ended up 0.29% at 4,336 Thursday (Sept 12) but trade was volatile. Most regional markets also closed in green.
It opened lower but regained in mid morning trade. The gain narrowed in early afternoon trade as BI Rate would be announced.
As BI Rate was raised as expected, investors then sold the stocks on that news. But one hour ahead of the market close, investors collected again the stocks, helping boost the index into positive territory.
Banking stocks became the focus of buying as BI rate hike will benefit the sector. Bank Tabungan Negara jumped 5.56%, Bank Mandiri surged 4.38%, Bank Negara Indonesia climbed 3.01%, and Bank Central Asia gained 0.51%. While Bank Rakyat Indonesia fell 2.5%.
Other gainers were Waskita Karya (+7.55%), Wijaya Karya (+8.72%), AKR Corporindo (+5.7%), Telkom (+2.3%), Japfa Comfeed (+9.17%), and Media Nusantara Citra (+3.3%).