JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) ended higher Tuesday (March 11) as investors are expecting BI Rate cut amid Rupiah’s appreciation against theb US Dollar.
The index gained 0.58% to close at 4704, led by property stocks. Alam Sutera jumped 4.2% and Bumi Serpong Damai gained 2.13%. Sentul City soared 9.36%.
Investors expects Bank Indonesia will cut its benchmark BI Rate this week from current 7.5% as the rupiah is strengthening against the US Dollar. Today the rupiah was traded at Rp11,384 per dollar.
Asian markets were finding their feet on Tuesday after a rocky ride the previous session, though uncertainty about the true state of China’s economy kept nerves frayed and commodity prices restrained, Reuters reported.
Nymex’s crude oil increased 0.25% to US$101.37 per barrel and gold rose 0.39% to US$1,346.70 per ounce.