JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) gained almost 2% to close at 4,103 on Thursday, following BI Rate hike announcement by Bank Indonesia this mid afternoon.
Trade was volatile ahead of BI Rate announcement with some locked in profits in certain stocks as BI Rate decision became the best momentum after recent painful market.
Bank Indonesia had today raised BI Rate to 7% from previous 6.5% and the rupiah recovered to Rp10,936 against the US Dollar.
Regional markets also supported the sentiment. Korea’s KOSPI, Singapore’s Straits Times, Malaysia’s KLSE and India’s BSE also gained more than 1%.
In Jakarta bourse, Astra International gained 4.46%, AKR Corporindo jumped 9.86%, Adaro Energi hiked 4.6%, Alam Sutera surged 11.34%, Bank Negara Indonesia lifted 4.08%, Kalbe Farma soared 9.17%, Lippo Karawaci climbed 4.85%, Bumi Serpong rose 4.07%, and Telkom gained 3.49%.
Other gainers were Media Nusantara Citra (+4.67%), Multipolar (+3.57%), Matahari Putra (+4.76%), Bank Bukopin (+5.88%), BW Plantation (+8.2%), London Sumatera (+6.67%), and Indofood (+7.83%).