IDX composite opens higher following financial report release

Jakarta (ANTARA News) The Indonesia Composite Index (IHSG) at the Indonesia Stock Exchange (IDX) opened higher on Monday, following the release of IDX-listed companies financial report.

The IHSG, on Mondays opening, strengthened by 6.06 points, or 0.01 percent, to 6,488.9, while the 45 prime bonds, “LQ45,” strengthened by 1.52 points, or 0.15 percent, to 1,027.31.

“We feel positive about IHSG this week, as it is pushed by the yearly financial report that can be a catalyst for the index,” Valbury Securities head of research Alfiansyah noted here on Monday.

From the external factors, the markets uncertainty remains high, caused by the US political situation after 35 days of the US government shutdown and its re-opening without any deal on the wall on the borderline of the United States and Mexico.

President Trump said he agreed to re-open the government to avoid further negative impacts over 800 thousand federal employees.

“We see that the uncertainty is still high, considering the budget was only approved for the next three weeks, while the Republicans would not compromise about the wall,” Alfiansyah noted.

PT Indosurya Bersinar Securities Director William Surya Wijaya noted that the IHSG had been indicating positive movement since early 2019 to a week before Chinese New Year, and this trend might continue.

“This, among others, is caused by continuing capital inflow by year-to-date that is supported by a relatively stable fundamental economy, which is indicated by the current published data,” he noted.

Wijaya has forecast that the IHSG, on Monday, will move around 6,318 to 6,542 points.

From the regional bourses, among others, Japans Nikkei weakened by 65.34 points, or 0.31 percent, to 20,708.22; Hong Kongs Hang Seng strengthened by 160.53 points, or 0.58 percent, to 27,729.72; and Singapores Straits Times up 11.43 points, or 0.36 percent, to 3,213.68.

Source: ANTARA News