Positive global sentiment projected to extend to IHSG

Jakarta (ANTARA) - The Indonesian composite index (IHSG) of the Indonesia Stock Exchange (IDX) is projected to ride high, Friday, amid positive cues from global markets following the inking of the US-China phase one trade deal.

The IHSG opened higher today, at 7.73 points, or 0.12 percent, to 6,293.78. In the meantime, the index of the 45 most liquid stocks, or LQ45, also rose up to 1.82 points, or 0.18 percent, to 1,027.63.

"The positive response may move the IHSG to lie in the green zone," Valbury Securities Head of Research Alfiansyah stated in Jakarta. Related news: US-China trade agreement lends certainty: Finance Minister

He pointed out that the trade deal and release of the company's profit reports have led to the strengthening of the US stock market on Thursday (Jan 16).

In the meantime, on the domestic front, Indonesia's government plans to prolong the coal mining permit by revising Government Regulation No. 23 of 2010. The revision process currently awaits the State-Owned Enterprises Ministry's approval.

The revised version of the regulation will no longer cover the 25-hectare land area of the coal mining site.

"The regulation will have a positive impact on the mining industry," Alfiansyah stated.

In the meantime, regional markets that strengthened this morning comprised only Nikkei, rising 100.7 points, or 0.42 percent, to 24,033.8. However, the Hang Seng Index depreciated 21.3 points, or 0.07 percent, to 28,861.7, and the Straits Times Index plunged 4.89 points, or 0.15 percent, to 3,273.11.

Source: Antara News

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