REPUBLIKA.CO.ID, JAKARTA -- The Jakarta composite index (JCI) closed 0.37 percent higher on Thursday reflecting investors' confidence in the domestic capital market, an official of the Indonesian Stock Exchange (BEI) said.
The JCI rose 20.26 points to 5,439.83 points with index of 45 most liquid stocks up 0.38 percent to 945.05.
BEI director for development Friderica Widyasari Dewi said the domestic market is quite stable despite negative sentiment such as falling value of rupiah against the US dollar.
"The JCI is moving in anomaly , but we are confident the market will remain positive," Frederica said.
She said long term orientation of investors is one of the contributors to improved performance of the market ahead.
Meanwhile foreign capital inflow to the domestic market remains strong, she added.
"So far this year foreign investors still recorded a net buy of around Rp10 trillion," she noted.
Meanwhile, HD Capital's analyst Yuganur Wijanarko , investors were prompted to buy shares on expectation that listed companies would report positive performance in the first quarter of this year.
In addition there is expectation of a cut in bank interest rates as a result of the deflation recorded in the first two months of the year.
Trade on Thursday end with 210,570 transactions and 4.55 billion shares valued at Rp4.44 trillion changing hands.
Gainers outnumbered decliners by 163 to 117 shares with 116 shares flat.
Regional markets such as Hang Seng and Nikkei recorded gain in indices but Straits Times declined.
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