REPUBLIKA.CO.ID, JAKARTA -- Composite Stock Price Index (CSPI) at Indonesia's Stock Exchange (IDX) on Wednesday was opened up 4,402 points following the stable exchange rates. IDX index was opened up 11.59 points or 4,402.36, while index of 45 leading shares (LQ45) rose 10.10 points at level of 721.53.
Director of PT Evergreen Capital, Rudi Utomo said that bourse members bought back its shares, so that IDX index rose again. It is in line with Indonesia's economic data, which recorded a positive result.
"Indonesia's trade balance booked a surplus and the exchange rate was stable. These conditions were appreciated by market participants," Utomo said on Wednesday.
Some IDX policies also trigger positive impacts, such as conversion of lot size and implementation of single tick size for different price levels. These policies encourage market participants actively trading in stock market.
On Thursday, BI announced a surplus of 4.4 billion USD on Indonesia's balance of payment compared to third quarter of 2013. BI Governor, Agus Martowardojo said that improved economic condition in Indonesia was seen from trade balance, current account deficit, and balance of payment and also controlled inflation in fourth quarter of 2013.
Technical Analyst of PT Mandiri Securities saw that political condition in Thailand made most of foreign funds that were in the country moving to Indonesia. Many foreign investors bought shares in large number on Monday this week.
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