REPUBLIKA.CO.ID, JAKARTA -- The Jakarta share price index (IHSG) closed at 6,070 points on Tuesday or an all time high.
The index of the Indonesian Stock Exchange (BEI) gained 6.12 points or 0.10 percent on Tuesday to chalk up a record high at 6,070 points, analyst of Binaartha Sekuritas Reza Priyambada said here on Tuesday.
The index of the 45 most liquid stocks (LQ45) rose 5.03 points or 0.49 percent to 1,024.69 points.
"After experiencing pressure, buying action by investors toward the end of the final session, pushed the IHSG to a positive area to hit a record high," Reza Priyambada said.
Based on data at the Indonesian Stock Exchange, the new record was higher only slightly from previous record at 6,069.78 points at the close of the market on 22 November 2017.
Reza said the selective buying action by some investors that pushed up the index, was attributable to rupiah stability and strong economic fundamentals of the country.
He said the buying action resulted in foreign net buying of Rp218.95 billion.
Analyst of Reliance Sekuritas Lanjar Nafi said technically the IHSG moved to an area of consolidation.
Mafi predicted the IHSG would move in the range of 6,040-6,080 points in Wednesday's trading.
The trading frequency was 351,879 times with 10.419 shares valued at Rp8.181 trillion changing hand. Gainers totaled 130 gainers against 236 decliners with 114 shares flat.
Regional markets such as Nikkei and Hang Seng recorded a decline in index with Straits Times gaining.
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