ID :
345891
Tue, 10/28/2014 - 06:51
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Jakarta Index Opens Slightly

Jakarta, Oct 28(Antara) - The Jakarta composite index (JCI) opened slightly higher in the first minutes of trading on Tuesday to follow the regional trend. The index of the Indonesian Stock Exchange (BEI) rose 4.03 points or 0.08 percent to 5,028.32 points with index of 45 most liquid stock up 0.12 percent to 852.35. "The majority market in Asia, including BEI recorded a slight rise in index while the market players are awaiting the result of the US Central Bank this week," Samuel Sekuritas` analyst Tiesha Narandha Putri said . The domestic sentiment is influenced by what the government will decide on subsidy on oil fuel. The new government has indicated it would raise the price of subsidized oil fuel by Rp3,000 per liter on Nov. 1 this year. The market is also watching the performance of a number of issuers in the third quarter of this year. "The market players chose to wait and see . The JCI is expected to tend to decline," Tiesha said. Chief researcher of Recapital Securities Andrew Argado said the performance of some of the listed companies was slowing , but the state banks recorded a double digit growth. Meanwhile private banks suffered a decline in performance. "It was one of indications that slowdown was recorded in the performance in the third quarter," Andrew said. The market players are also awaiting the policy of the new cabinet in forestalling the impact of expected external sentiment such as the global economic slowdown and expected increase in the US central bank`s interest rate in 2015. "Technically, the JCI is expected to gain slightly to hover around 5,000-5,050 points," he said. At 10.30 local time the JCI reversed to a negative area losing 15.52 points or 0.31 percent to 5,008.78 points. Regional market such as Hang Seng recorded an increase in index, but Nikkei and Straits Times suffered a setback.

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