IHSG rebounds 6.95 points though drop projected on Tuesday

Jakarta (ANTARA) - The Indonesian composite index (IHSG) of the Indonesia Stock Exchange (IDX) strengthened, Tuesday morning, increasing 6.95 points, or 0.11 percent, to 6,252, though an analyst projected a drop over lacking positive catalyst in stock market.

In the meantime, the index of the 45 most liquid stocks, or LQ45, also climbed 1.97 points, or 0.19 percent, to 1,023.98.

"The lack of positive catalyst may contribute to the market sentiment and restrain the IHSG to lie in the negative zone during today's trading," Valbury Securities Head of Research Alfiansyah stated in Jakarta, Tuesday.

On the external front, the global market awaits the outcome of the US President Donald Trump's impeachment trial at the Senate on Tuesday.

Meanwhile, on the domestic front, Bank Indonesia is said to cut its interest rate, or BI 7-day Reverse Repo Rate, by 25 bps to 4.75 percent.

During the day, regional markets that weakened this morning comprised Nikkei tanking 203.7 points, or 0.85 percent, to 23,879.8; Hang Seng Index plunging 536.8 points, or 1.86 percent, to 28,258.1; and the Straits Times Index depreciating by 37.72 points, or 1.15 percent, to 3,242.37.

Source: ANTARA News

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