Jakarta Index Opens Higher

Jakarta, 16/7 (Antara) - The Jakarta composite index opened 0.11 percent higher on Wednesday on positive political sentiment in the country` analysts said. The index of the Indonesian Stock Exchange rose 5.44 points to 5,076.27 points with index of 45 most liquid stock up 0.16 percent to 871.70 points. "BEI index rose further though slightly and it vulnerable to profit taking," Head of Research of Valbury Asia Securities Alfiansyah said on Wednesday. Alfiansyah said market players are also awaiting announcement on July 22 of the official result of the presidential election. "Peaceful implementation of the election is positive for foreign investors helping offset negative sentiment because of oil price hike as a result of conflict in Middle East," he said. Regional markets such as Hang Seng and Straits Times recorded an increase in index but Nikkei recorded a decline. Meanwhile rupiah, in inter bank transactions lost value against the US dollar trading at the level of 11,789 per dollar weakening from the earlier level of 11,736 per dollar. "The US dollar gained over the currencies of Asia`s developing countries including rupiah after statement by head of the Federal Reserve Janet Yellen that interest rate could be raised earlier," chief researcher of Monex Investindo Futures Ariston Tjendra said. The Fed would likely raise its interest rate in 2015, Ariston said. Financial market observer Rully Nova from Bank Himpunan Saudara said minimum positive sentiment in the country weakened rupiah against the US dollar.