Jakarta (ANTARA News) - The Jakarts composite share price index (IHSG) opened higher on Wednesday on expectation the countrys economy would grow positively.
The index of the Indonesian Stock Exchange (BEI) rose 8.09 points or 0.13 percent to 6,089.96 points and the index of the 45 most liquid stocks rose 0.11 percent to 971.75 points.
Chief researcher of Valbury Sekuritas, Alfiansyah said the IHSG rose on optimism that the countrys economic condition would improve in 2019.
"Bank Indonesia has expressed optimism the countrys economy would grow stronger in 2019 on assumption the Fed would not be as aggressive as in 2018 in raising its fund rate," Alfiansyah said.
Externally, the increase in share prices in the United States contributed to positive sentiment in Asia, he said.
Chief Researcher of PT Paramitra Alfa Sekuritas Kevin Juido said investors began to collect more share on valuation of share prices in the country already hit the rock bottom.
"In the past several days, the share prices in the country were under pressure, encouraging investors to accumulate shares," he said.
Regional market including Nikkei, Hang Seng and Strait Times recorded an increase in index.
Meanwhile, the Indonesian currency rupiah regained some of its lost value in the opening trade, appreciating to the level of 14,365 per U.S. dollar from earlier level of 14,511 per dollar. Reporting by Zubi Mahrofi (SYS/AS/S012)
Source: ANTARA News