Jakarta Index Closes Higher, Rupiah Shrinks

Jakarta (Antara) - Indonesia's benchmark stock index extended gain on Monday to follow the regional trend. The index of the Indonesian Stock Exchange closed 2.92 percent higher at 4,191.26 point with index of 45 most liquid stocks up 3.67 percent to 700.85 points. Buying action and positive regional sentiment pushed up the BEI index,HD Capital's analyst Yuganur Wijanarko said here on Monday. Panin Sekuritas' analyst Purwoko Sartono said the regional markets including BEI gain marked the economic revival in this region. "We hope the BEI index would fluctuate but tend to rise on Tuesday to hover around 4,170--4,220 points," Purwoko predicted. Trading in the BEI recorded 177,734 transactions with 4,144 billion shares worth Rp5.018 trillion changing hands . Gainers outnumbered decliners by 222 to 61 with 72 shares unchanged. Regional markets such as Hang Seng recorded a 0.57 percent increase in index to 22,750.65 points, with Nikkei-225 index up 2.48 percent to 14,205.23 points and that of Straits Times gaining 1.11 percent to 3,082.04 points. Meanwhile, the national currency rupiah continued to weaken against the US dollar on jittery in market over fear of escalation of conflict in Syria. Rupiah closed at 11,580 per dollar in interbank transaction weakening from the level of 11,170 earlier. "The US dollar rose today as market players were worried over possible US attack on Syria," Monex Investindo Futures' chief researcher Ariston Tjendra said here on Monday. "Currently dollar index tends to rise against world's currencies," he said. PT Platon Niaga Berjangka's analyst Lukman Leong said in short term rupiah would still be under pressure on fears of Syria conflict and possible decision of The Fed to cut its monetary stimulus. (*)