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JCI up, rupiah down as US dollar index strengthens

Jakarta Post - May 29, 2019

Jakarta – The Jakarta Composite Index (JCI) strengthened 61.93 points to 6,095.07 before the morning trading session closed at midday on Wednesday but the rupiah weakened as the United States dollar strengthened.

In the morning session, the volume of transactions at the Indonesia Stock Exchange (IDX) reached 9.30 billion shares, involving Rp 6.08 trillion. Approximately 202 shares saw gains, while 146 experienced losses and 126 other shares remain unchanged.

The three main gainers were PT Pabrik Kertas Tjiwi Kimia (7.01 percent), PT Indah Kiat Pulp and Paper (3.97 percent) and PT Gudang Garam (3.91 percent)

Meanwhile, the three top losers were PT Barito Pacific (-4.45 percent), PT AKR Corporindo (-2.90 percent) and PT Waskita Beton Precast (-1.51 percent).

Foreign investors' net purchase was recorded at Rp 292.94 billion. The shares with the largest net purchase included Bank Central Asia (Rp 116.7 billion) PT Telekomunikasi Indonesia (Rp 57.27 billion) and PT Barito Pacific (Rp 53.04 billion).

Shares with the largest net sells were Bank Negara Indonesia (Rp 37.1 billion), PT Tower Bergama Infrastructure (Rp 13.44 billion) and PT Bukit Asam (Rp 10.08 billion).

Meanwhile, the rupiah weakened to Rp 14,435 per dollar, according to Bloomberg data.

Futures firm Monex Investindo Futures analyst Ahmad Yudiawan said the dollar was still the choice of investors to serve as a safe haven for their assets amid the trade war between the US and China.

The dollar has been an alternative amid global uncertainty, instead of the euro and pound sterling because of Brexit, Ahmad added as quoted by kontan.co.id. (bbn)

Source: https://www.thejakartapost.com/news/2019/05/29/jci-up-rupiah-down-as-us-dollar-index-strengthens.html