JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) opened higher 0.3% at 5341 this morning on expectation over the cut in the benchmark BI Rate.
Today Bank Indonesia will make the decision on its benchmark BI Rate. Market players expect a cut in BI Rate alongwith the current improving economic indicators such as January’s trade surplus, stable inflation, capital inflow, and stable rupiah.
Bumi Resources gained 1%, Kalbe Farma rose 1.1%, Matahari Department Store increased 1.13%, Wijaya Karya hiked 1%, and Matahari Putra Prima jumped 4.64% after 23.4% growth in profit for 2014.
Reuters reported this morning that U.S. stock futures and the euro tumbled in early Asian trade on Tuesday after talks between Greece and euro zone finance ministers broke down when Athens rejected a proposal to request a six-month extension of its international bailout program.
Nymex’s crude oil rose 1.9% to US$56.25 per barrel in Asian trading this morning and gold increased 0.59% to US$1,227.10 per ounce.