REPUBLIKA.CO.ID, JAKARTA -- The Jakarta composite index (JCI) has continued to be on increase this week opening 0.53 percent higher or 28 points to 5,281.18 points on Friday (23/1).
The index of the Indonesian Stock Exchange (BEI) has increased from 5,152.09 points on Monday to a record high at 5,253.18 points on Thursday .
Meanwhile, the index of 45 most liquid stocks rose 0.78 percent to 917.86 points in the morning trade on Friday.
"Positive accumulation recorded by regional markets catalyzed the movement of the JCI to extend gain," Head of Research of Valbury Asia Securities Alfiansyah noted.
He said the decision on Thursday night by the European Central Bank (ECB) gave rise to optimism to global economic revival.
The impact of the ECB policy of bond buying program contributed to firming oil price in the world market lifting the prices of energy shares and related shares.
"Quantitative ease in Europe is good news including for equity investors," Alfiansyah said.
Panin Sekuritas' analyst Purwoko Sartono said that rupiah also recorded a positive movement to trade below the level of 12,500 per US dollar.
"This also contributed to pushing up the JCI," Purwoko said.
He said the government's decision to cut the prices of subsidized oil fuels began to show result, pointing out the prices of consumer and retail stocks are picking up indicating improvement in purchasing power.
"Today, the JCI will still move with a rising tendency after hitting the record high," he added.
Regional markets such as Hang Seng, Nikkei and Straits Times all recorded an increase in index.
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