Jakarta Index Up 7.74 Points

Jakarta, Jan 8 (Antara) - The Jakarta composite index opened higher on Wednesday on positive sentiment with rise in rupiah value against the US dollar. The index of the Indonesian Stock Exchange rose 7.74 points or 0.19 percent to 4,183.55 points with index of 45 most liquid stocks up 0.29 percent to 696.47 points. "Rupiah is a positive area this morning and the yield of 10-year state bonds was stable at 8.9 percent giving a boost to the BEI index," Samuel Sekuritas` analyst Benedictus Agung said . Benedictus said the indexes of the majority of market in Asia including BEI index gained on positive US trade balance and the statement of the International Monetary Fund (IMF)raising its projection of the world`s economic growth. He said a number of stocks which significantly fell in prices over the past days especially mining and palm oil stocks are expected to rise on Wednesday. Reliance Securities` analyst Lanjar Nafi Taulat Ibrahimsyah said domestic economic data that tended to slow down could make investors to be more cautious in making decision ahead of the announcement of Bank Indonesia of its benchmark interest rate on Thursday. However, technically, the BEI index is entering a condition of being oversold, Lanjar said. He predicted the BEI index would hover around 4,127 - 4,200 points in Wednesday trading. Regional markets such as Hang Seng recorded an increase of 196.87 points or 0.87 percent in index to 22,909.65 points with Nikkei index up 168.53 points or 1.07 percent to 15,982.68 points and that of Straits Times rising 13.53 points or 0.43 percent to 3,134.39 points.