Election Success Has Positive Impact On Jakarta Composite Index

Jakarta, July 23 (Antara) - The success of the Indonesian electoral event has made a positive impact on the Jakarta Composite Index (JCI) as it rose by 21.30 points on Wednesday morning and opened at 5,104.83. The JCI Stock Exchange opened at 5,104.83, up 21.30 points or 0.42 percent, while the index of 45 leading shares (LQ45) rose 5.57 points (0.64 percent) to a level of 879.35. Head of Research Valbury Asia Securities Alfiansyah stated here on Wednesday that the smooth implementation of the presidential election process up to the announcement of the election tabulation results by the National Elections Commission (KPU) acted as a positive factor to boost the domestic stock market. "The security condition in the country remained peaceful during the presidential election, which has sparked market euphoria. The positive sentiment is dominating the stock market in the country, above others," Alfiansyah noted. In the meantime, it is estimated that large amounts of foreign funds have started trickling into the Indonesian capital market following the safe post-election security condition. "The election result determination by the Election Commission last night is projected to have a positive influence on the movement of the IDX Index on Wednesday. The index is expected to move in the range of 5,013-5,154 points," he pointed out. Regional exchanges, including the Hang Seng Stock Index rose 135.90 points (0.57 percent) to 23,918.01 level, the Nikkei Index rose 10.14 points (0.05 percent) to a level of 15,350.32, and Straits Times gained 16.68 points (0.50 percent) to reach 3,333.59.