REPUBLIKA.CO.ID, JAKARTA -- The Jakarta composite index (JCI) closed higher on Tuesday despite profit taking by foreign investors.
The index of the Indonesian Stock Exchange (BEI) rose 10.55 points or 0.19 percent to 5,447.64 points with the index of 45 most liquid stocks up 0.09 percent to 947.81 points.
"The rise of JCI was curbed by profit taking by foreign investors. The majority markets in Asia reported gain giving positive sentiment to the domestic market," PT NH Korindo Securities Indonesia's analyst Reza Priyambada said.
The trade on Tuesday recorded foreign net sell of Rp953.362 billion.
Reza said appreciation by the World Bank and the International Monetary Fund IMF) for structural reform policy was positively responded by the share investors.
HD Capital's analyst Yuganur Wijanarko said some of the domestic stocks were hit by sell off by foreign investors but good fundamental factor of stock market prevented the JCI from entering the negative territory.
"Profit taking by the market players did not result in correction of the JCI as the market was still dominated by buying action, that the JCI crossing the level of 5,475 points is wide open," Yuganur said.
Trade at BEI on Tuesday recorded 223,449 transactions with 4.02 billion shares valued at Rp5.63 trillion changing hands.
Decliners outnumbered gainers by 188 to 128 shares with 103 shares remaining unchanged.
Regional markets such as Hang Seng and Nikkei recorded a decline with Straits Times gaining.
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