Jakarta Index Expected To Gain

Jakarta, Jan 2 (ANTARA) - The Jakarta composite share price index is expected to rice in the first trading day of the new year to reach 4,295 - 4,345 points on Wednesday. The Indonesian Stock Exchange (BEI) started trading on Wednesday morning with index rising 0.04 percent to 4,318.28 points. MNC Securities` chief researcher Edwin Sebayang said the rupiah gain was triggered by Dow Jone strengthening on last year`s closing day . "Agreement on way to deal with fiscal cliff strengthened the Dow Jone index," Edwin said. Budget agreement has been reached at the US Senate in a bid to prevent economic contraction by raising tax on rich Americans and put off cut in state spending, he said. Meanwhile, Equity Research Associate of PT Sinarmas Sekuritas, Christandi Rheza Mihardja, said technically the Jakarta index is predicted to move around 4,264-4,340 points. "Asian markets are predicted to gain with expectation that Japan would issue economic stimulus while the value of yen would fall," he said.