REPUBLIKA.CO.ID, JAKARTA -- The Indonesian Stock Exchange (BEI) sees the strengthening of composite index as a sign that market players have responded positively to the cabinet reshuffle announced by President Joko Widodo (Jokowi) on Wednesday.

"The BEI composite index has today (Wednesday, July 27) surged. It's probably a reflection of the positive response of market players to the reshuffle. Some investors began to position themselves to enter the market," Samsul Hidayat, company appraisal director of the BEI, said here on Wednesday.

He expressed his optimism that the second reshuffle would better stimulate the realization of the government's economic packages and would finally boost the BEI composite index.

In the meantime, Research Head of the Indonesian University of Brokers, Satrio Utomo, noted that the appointment of Sri Mulyani as the new finance minister has elicited a positive response from the stock market players in the country.