JAKARTA, (PNA/ANTARA) — Jakarta composite share price index extended gain rising 18.96 points in the first minute of trading on Wednesday.
The index of the Indonesian Stock Exchange (BEI) opened 0.43 percent higher at 4,377.10 points with index of 45 mots liquid stocks up 4.82 points or 0.65 percent to the level of 743.88 points.
“The BEI index rose further on an increase in foreign exchange reserves with foreign investors beginning to buy shares,” Panin Sekuritas` analyst Purwoko Sartono said.
The recent selling of state bonds also still contributed to positive sentiment in the market, Purwoko said.
“However, the rise in BEI index began to be curbed by profit taking,” he added.
HD Capital`s analyst Yuganur Wijanarko attributed the rise in the BEI index to positive regional sentiment and rupiah strengthening.
Rupiah, the country`s currency, began to regain some of its lost value since Tuesday trading at 11,250 per US dollar in the Wednesday`s opening trade from the level of 11,361 earlier.
“The trend is feared to end in profit taking,” he said.
Regional markets such as Hang Seng recorded a decline of 0.17 percent in index to 22,938.42 points with Nikkei-225 index up 0.58 percent to 14,506.45 points and that of Straits Times down 0.21 percent to 3,117.28 points.