REPUBLIKA.CO.ID, JAKARTA -- The Jakarta Composite Index (JCI) opened higher on Wednesday to follow the global trend.
The index of the Indonesian Stock Exchange (BEI) rose 15.81 points or 0.29 percent to 5,336.65 points with index of 45 most liquid stocks up 0.44 percent to 924.98 points.
"Optimism prevailed in the market over agreement of the settlement of Greek debts pushing up the Wall Street index. External factor was one of the factors lifting the JCI," Head of Research of Valbury Asia Securities Alfiansyah said.
Meanwhile, the European Central Bank (ECB) is preparing to launch a new quantitative easy program by buying government euro bonds valued more 1 trillion euro from March 2015 to Sept. 2016 that would improve the market liquidity.
Asjaya Indosurya Securities' analyst William Suryawijaya said market players had bought more shares after the JCI was under pressure on Tuesday.
Regional markets such as Hang Seng and Nikkey weakened but Straits Times recorded gain in the opening trade.
Meanwhile, rupiah gained over the US dollar in interbank transactions trading at the level of 12,606 per US dollar from earlier level of 12,670 per dollar.
Chief researcher of Woori Korindo Securities Indonesia Reza Priyambada said the Greek debt agreement contributed to the rupiah gain.
In addition, the Chinese central bank (PBoC) said it would not adopt a tight economic policy , a policy expected to allow Indonesia to increase exports to the world's second largest economy, Reza said.
"The external factors gave greater strength for rupiah against the US dollar," he said.
Meanwhile the market still have strong expectation that the country's economy would grow this year, he said.
This year, the Indonesian economy is predicted to grow 5.3-5.5 percent , higher than 5.02 percent in 2014.
Samuel Sekuritas' economist Rangga Cipta said the rupiah strengthening is also attributable to expectation of the market that the proposed revision of state budget for 2015 would be approved by the Parliament.
Meanwhile, investors' attention would turn more to current account data to be released by the government this week, and the data are expected to be positive, Tangga said.
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