Indonesia Stock Exchange Composite Price Index Has Increased

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Karyawan melihat layar Indeks Harga Saham Gabungan (IHSG) di Bursa Efek Indonesia, Jakarta. ANTARA FOTO/Sigid Kurniawan/hp.
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NUSADAILY.COM -JAKARTA- Indonesia Stock Exchange Composite Price Index (IDX) at the beginning of the week, increased following the increase of the majority of Asian stock exchanges.

JCI opened up 16.55 points, or 0.26 percent, to 6,374.76. The benchmark LQ45 index rose 3.94 points, or 0.41 percent, to 954.78.

“The focus this week is on the FOMC meeting and the Board of Governors Meeting of Bank Indonesia on March 17-18, 2021 with the possibility that it will still hold the benchmark interest rate. IHSG at the beginning of this week has the potential to move in the range of 6,271 – 6,428,” wrote Lotus Sekuritas Research Team in its study in Jakarta on Monday.

Bank Indonesia (BI) expects inflation in the second week of March 2021 at 0.09 percent (mom). With this forecast, the inflation forecast for March 2021 is 0.45 percent (ytd) and 1.37 percent (yoy) annually.

Externally, U.S. equity markets closed mixed in late trading last week, as optimism about business activity increased.

The U.S. government legalized the American Rescue Plan (ARP), which brought in $1.9 trillion in stimulus. It gives a positive sentiment that will drive the performance of a number of investment assets.

From Europe, the Stoxx 600 weakened in response to stronger government bond yields and raised investor concerns. On a weekly basis, the Stoxx 600 gained 3.5 percent (wow), its best weekly position since November 2020.

The majority of European regional exchanges also closed higher. Meanwhile, the results of the European Central Bank (ECB) meeting maintained the Pandemic Emergency Purchase Program (PEPP) fund worth 1.85 trillion Euro until March 2022.

Of commodities, crude oil prices closed slightly lower in late trading Friday (Saturday morning GMT) after strengthening two days in a row. Brent oil prices weakened to 69.22 US dollars per barrel and WTI to 65.61 US dollars per barrel.

Asian regional stocks this morning include the Nikkei index gaining 93.95 points, or 0.32 percent, to 29,881.78, The Hang Seng index rose 221.41 points, or 0.77 percent, to 28.96131, and the Straits Times index gained 16.53 points, or 0.53 percent, to 3,111.75. (sak)