IDX climbs following assuaging US-China trade dispute

Jakarta (ANTARA) - The Indonesian Composite Index (IDX) started the day with a positive outlook on Friday's opening, following a reduction in pressure to the market from the US-China trade dispute.

The IDX strengthened by 22.61 points, or 0.36 percent, to 6,329.41, and the index of the 45 prime stocks "LQ45" gained 6.19 points, or 0.63 percent, to 992.39.

"Lessening trade tension between the US and China, low concerns over the sluggish economy, and less buying action have been the driving force behind IDX's positive movement today," Lanjar Nafi, head of research at the Reliance Sekuritas, noted here on Friday.

The Asian regional markets too mirrored this positive trend on Thursday, encouraged by the plan of the US and China to continue trade negotiations in early October.

The strong US economy data report also contributes to lessening fear of a global economic downturn.

Other international happenings that had chipped in to this positive trend included the UK Prime Minister Boris Johnson's failure to gain trust for a "no-deal Brexit" from the House of Commons and Hong Kong Leader Carrie Lam's announcement to fully withdraw a bill to allow extradition to mainland China.

Among the Asian markets this morning, the Nikkei Index rose by 142.13 points, or 0.67 percent, to 20,228.07; Hang Seng Index increased 162.48 points, or 0.61 percent, to 25,678.01; and the Straits Times Index strengthened by 11.42 points, or 0.36 percent, to 3,158.48.

Source: ANTARA News

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