IHSG hits an all time high in 2017s closing trading day

Jakarta - The Jakarta composite index (IHSG) hit an all time high at 6,355 points on Friday, the closing trade day for this year.

The index of the Indonesian Stock Exchange (BEI) closed 41.6 points or 0.65 percent higher with the index of the 45 most liquid stocks up 0.84 percent to 1,079.38 points.

"All stakeholders of the financial market are happy. No foreign investors pull out of the market. They make profit of around Rp240 trillion, and sell only 15 percent of their profit," BEI chief executive Tito Sulistio said addressing the closing of the year end trading day.

Sulistio said the BEI management would work the harder to increase the market capitalization and set to increase the number of listed companies with 35 new companies in 2018.

"Our target is to increase the market capitalization to Rp10,000 trillion in the next two years," he said.

President Joko Widodo said the index rose this year to a level higher than expected by most industrial players, adding "the performance deserve appreciation."

"Many have said that reaching the level of 6,000 point is quite good. Now it is 6,355 points and we prove we could pass safely over all risks," the president said.

Separately analyst of Reliance Sekuritas Lanjar Nafi said the optimism shown by investors in welcoming the year 2018 has been a factor pushing the IHSG to continue gaining. Positive expectation of the countrys economy drove the market players to buy more shares.

"Major shares, which have been under pressure rebounded toward the end the year," Lanjar said.

There were 315,650 transactions in Fridays trading with 26.082 billion shares worth RpRp23.384 trillion changing hands.

Gainers outnumbered decliners by 222 to 149 with 118 shares flat.

Regional markets like Nikkei recorded a decline in index with Hang Seng and Straits Times gaining.

Meanwhile, the countrys currency rupiah regained some of its lost value closing at the level of 13,550 per U.S. dollar from the level of 13,556 per dollar earlier.

Analyst of Valbury Asia Futures Lukman Leong said the rupiah moved evenly but tended to gain against the dollar amid minimum transactions at the closing of this year trading day.

He said the factor driving the dollar such as the increase in the benchmark interest rate of the U.S. Central Bank began to recede as that countrys inflation is expected to remain high.

Source: Antara News

Related posts