Jakarta Composite Index Surpasses Key Psychological Benchmark on Political News (JP)
On Friday, the Jakarta Composite Index Surpasses surpassed the psychological benchmark of 5,000 for the first time in 2014 as the current political situation and upcoming elections become more clearer. The Jakarta Post quoted Valbury Asia Securities research division vice president Nico Omer Jonckheere as saying:
“Investors like it that the options [for president] have narrowed down to two candidates. That provides higher certainty about the future.”
Nico added that the Indonesia elections would most likely only last one round with potentially two candidates; Joko “Jokowi” Widodo from the Indonesian Democratic Party of Struggle (PDI-P) and Prabowo Subianto from the Gerindra Party.
According to statistics published by the IDX, foreign investors booked around Rp 2.1 trillion (US$184 million) in net buy during the day, up from Rp 1.26 trillion posted on Wednesday. Shares of telecommunication firm Telekomunikasi Indonesia (TLKM) which is also listed on the NYSE; lenders Bank Mandiri (BMRI) and Bank Rakyat Indonesia (BBRI); diversified conglomerate Astra International (ASII); and telecommunication operator XL Axiata (EXCL) were recorded as the top five daily movers.
Read the whole article, Political sentiments drive JCI above 5,000 for first time in 2014, in the Jakarta Post or, Jakarta index extends gain crossing the level of 5,000 points, on AntaraNews.com.
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