Jakarta index closes higher on Friday

The Jakarta composite index (JCI) closed 42.61 points higher on Friday on selective buying by market players.

The index of the Indonesian Stock Exchange rose 0.96 percent to 4,456.74 points with index of 45 blue chips up 1.48 percent to 779.31 points.

Selective buying of big capitalization shares pushed up the JCI slightly, HD Capital analyst Yuganur Wijanarko said.

“In addition, share prices in foreign markets generally rose on oil prices being on the increase lately , prompting market players on the domestic market to buy shares< he said.

The price of WTI on Friday afternoon rose 4.3 percent to S$30.80 per barrel and Brent pri9ce was up 5.09 percent to US$30.74 dollar.

Satisfaction expressed by the Capital Investment Coordinating Board (BKPM) with the achievement in direct investment to Rp545.4 trillion in 2015 gave positive sentiment to the market.

In 2016, BKPM set growth target at 9.3 percent for direct investment to Rp594.8 trillion .

There were 213,493 transactions in the market on Friday with 4.07 billion shares valued at Rp5.25 trillion changing hands .

Regional markets such as Hang Seng, Nikkei and Straits Times recorded gain in index.

Meanwhile the national currency rupiah closed stronger trading at 13,834 per U.S. dollar gaining from the previous level of 13,906 per dollar.

“Rising trend of oil prices propped up the currencies of emerging countries ,” financial market observer from Bank Himpunan Saudara, Rully Nova, said.