Jakarta Index Extends Gain In Monday's Opening

Jakarta, March 17 (Antara) - The Jakarta composite index extended gain in Monday`s opening trade amid correction in the majority of other Asian markets. Hang Seng recorded a decline of 0.17 percent in index to 21,503.38 points and Nikkei index shrank 0.20 percent to 14,299.68 points. The index of the Indonesian Stock Exchange (BEI) opened slightly higher by 8.72 points or 0.18 percent to 4,887.36 points with he index of 45 most liquid stock up 0.27 percent to 832.93 points. "The rising trend was curbed by negative external sentiment," chief researcher of Trust Securities, Reza Priyambada, said. Political euphoria had jacked up the prices and index, but the euphoria brought about only short term increase and is vulnerable to profit taking, he said. Head of Research of Valbury Asia Securities, Alfiansyah, said domestic and external sentiments would determine the movements of the BEI index this week. He predicted external factor would be dominant. He said the government and Bank Indonesia are optimistic Indonesia could further cut the current account deficit although international rating agency Fitch Ratings predicted that the country`s current account deficit would remain wide at 3.1 percent "The Indonesian government is determined to cut the country`s current account deficit to 2.5 percent of the country`s GDP as a number of economic indicators tended to increase or to be stable such as inflation, trade balance, economic growth and capital market indicators," he said. The index of Straits Times gained slightly 1.98 points or 0.07 percent to 3,076.40 points.