REPUBLIKA.CO.ID, JAKARTA -- The Jakarta composite index (JCI) closed higher on Tuesday on optimism of the market player with the country's economy.
The index of the Indonesian Stock Exchange (BEI) rose 19.17 points or 0.37 percent to 5,160.30 points with index of 45 most liquid stocks up 0.87 percent to 892.72.
Asjaya Indosurya Securities' analyst William Surya Wijaya said the country's GDP in the first quarter of 2015 grew 4.71 percent on-year.
"Though lower than in the previous quarter , the market players are optimistic that the country's economic growth would be higher in the following quarter," he said.
The optimism of the majority of the market players was one of the drivers of the JCI, he said.
He said the condition of the domestic economy is relatively stable giving greater confidence to the market players and investors to increase their portfolio investment in the country such as in shares.
"Foreign funds have returned to the domestic market indicati8ng that the economy is stable," he said.
Data from share trading at BEI showed foreign net buy of Rp454.939 billion on Tuesday.
Transactions were recorded at 254,691 times with 4.01 billion shares valued at Rp4.94 trillion changing hands.
Gainers slightly outnumbered decliners by 158 to 157 with 93 shares flat.
Regional markets such as Hang Seng and Straits Times recorded a decline in indices with Nikkei recording an increase.
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