REPUBLIKA.CO.ID, JAKARTA -- The Jakarta composite index (JCI) closed higher on Tuesday on positive sentiment with rupiah gaining against the U.S. dollar.
The index of the Indonesian Stock Exchange (BEI) rose 34.98 points or 0.80 percent to 4,409.17 with 45 most liquid stocks up 1.1 percent to 756.37 points.
"Rupiah appreciation was one of the factors giving positive sentiment for the JCI. Some market players were prompted to buy shares while awaiting the decision of the Fed on plan to raise its fund rate," Asjaya Indosurya Securities analyst William Surya Wijaya said.
Wijaya, however, cautioned the market players against possible pressure on rupiah from the Fed decision to raise its fund rate soon.
He said for long term investors, now is the time to accumulate shares when the JCI is low.
"The JCI is predicted to climb higher on Wednesday to the level of 4,330-4,445 points," he said.
Reliance Securities analyst Lanjar Nafi said the JCI is gaining despite correction after the announcement of trade deficit.
The Central Bureau of Statistics (BPS) said the country had a trade deficit of US$364.4 million in November, the first monthly deficit recorded in trade this year.
Technically the possibility of the JCI to rise on Wednesday is high to around 4,375-4,520 points, he said.
Around 2.32 billion shares worth Rp3.06 trillion changed hands in 216,855 transaction on Tuesday.
Gainers outnumbered decliners by 151 to 123 shares with 85 shares flat.
Regional markets such as Hang Seng and Nikkei recorded a decline in index bit the Straits Times gained.
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