Jakarta Share Price Up

Jakarta, Aug 16 (ANTARA) - The Jakarta composite share price index gained slightly when the Indonesian Stock Exchange opened trade (BEI) on Thursday morning. "The Index moved sideways but tended to rise on regional sentiments," Samuel Sekuritas chief researcher Christine Salim said here on Thursday. The BEI index rose 1.52 points or 0.04 percent to 4,143.50 with the index of 45 most liquid stocks (LQ45) rising 0.08 percent to 715.81 points. Christine said transactions were also expected to be relatively scanty ahead of the long Idul Fitri holidays starting tomorrow until August 22. She said the regional market gained this morning driven by the oil price hike of 0.11 percent to US$94.43 per barrel and China`s signalling economic stimulus to follow low inflation. Meanwhile, Panin Sekuritas analyst Purwoko Sartono said the BEI index gained on regional sentiment and reports of an increase in Germany and French GDPs. Higher than expected increase in the GDPs of Germany and France helped lift the BEI`s index, Purwoko said. However, he predicted the index tends to weaken in the whole of Thursday`s trading because of the long Idul Fitri holidays. "Investors are expected to save their portfolios and trade would be more listless. Index is expected to hover around 4,130-4,149 points, he said. In mid day trade the BEI index fell 90 points or 0.15 percent to 4,134.80. Regional market gaining on Thursday morning included Hang Seng with index up 0.23 percent to 20,099.10, Nikkei-225 with index rising 1.26 percent to 9,037.52 and Straits Times up 0.32 percent to 3,071.24.