JAKARTA: Indonesias benchmark stock index closed at a record high today following the positive mood from regional market and investors await earning reports.
Jakarta Composite Index (JCI) gained 0.95% or 38.75 points to 4,106.82 boosted by miscellaneous industry and finance shares. JCI moved within range of 4,069.94-4,109.08. About one share gained for every one share that fell, whilst a half of the shares were unchanged.The volume of trading reached 7.13 billion shares amounting to IDR5.15 trillion. The market capitalization of JCI was IDR3,698 trillion.The increase in JCI was led by PT Astra International Tbk which contributed 7.80 points to the index, PT Bank Central Asia Tbk 4.28 points, PT Charoen Pokphand Indonesia Tbk 3.36 points and PT Telekomunikasi Indonesia Tbk 2.35 points.Astra International jumped 2.32% or IDR1,650 to IDR72,900.Investors continue to buy as they are waiting for the first half reports which are predicted to give better result compared to the same period last year, said Pardomuan Sihombing, Head of Research PT Recapital Securities.Sihombing said JCI is supported by the increasing of companies which mainly focuses on the domestic market, including automotive company and consumer goods. He saw the backbone of JCI will shift to the companies which mainly targeted for export sales, especially commodity, starting next week.We will see a movement of shares of commodity, such as mining and plantation. Those two sectors are potentially support JCI, said Sihombing.A better forecast about economic growth in Indonesia also triggered JCI to reach level of 4,100. The International Monetary Fund said Indonesias gross domestic product growth is projected to remain robust at around 6.5% in 2011-12.The projection attracts foreign businesses to invest in Indonesian stocks. Foreign investors booked IDR508.89 billion in net buy in today trading.Meanwhile, Asian stocks gained after European Union leaders announced U$229 billion in new aid for Greece. Nikkei 225 rose 1.22% to 10,132.11, Hang Seng jumped 2.08% to 22,444.80, Shanghai gained 0.18% to 2,770.79, Kospi advanced 1.22% to 2,171.73, Straits Times increased 1.39% to 3,182.05 and MSCI Asia Pacific Index soared 1.51% to 884.03.The rupiah was traded up 0.20% against the US dollar at IDR8,524. (msw)
