IHSG ends higher ahead of Biden inauguration

Jakarta The Jakarta Composite Index (IHSG) ended higher on Wednesday as the market awaited the inauguration of Joe Biden as US president.

The index of the Indonesian Stock Exchange (BEI) added 107.9 points, or 1.71 percent, to reach 6,429.76, while the index of the 45 most liquid stocks (LQ45) climbed 25.8 points, or 2.61 percent, to touch 1,014.86

“Today, the market is very enthusiastic about the inauguration of Biden as US president, which they believe will run smoothly. The market is also enthusiastic to await the announcement of the outcome of a meeting of Bank Indonesia’s board of governors to set the 7-Day Reverse Repo Rate,” Bina Artha Sekuritas analyst M Nafan Aji Gusta said in Jakarta on Wednesday.

After opening higher on Wednesday, the IHSG remained in the green until the close of trade.

Stocks in nine sectors registered an increase, led by the mining sector, which rose 5.6 percent, followed by the basic industrial sector and the financial sector, which climbed 2.51 percent and 2.33 percent, respectively.

Only stocks in the consumer sector saw a correction of 0.62 percent.

Wednesday’s trade posted net foreign buys of Rp768.18 trillion.

A total of 1,715,264 transactions were recorded during the day, with 20.14 billion shares, worth Rp25.11 trillion, changing hands. Meanwhile, 287 shares rose, 211 shares fell, and 131 shares remained unchanged.

In the Asian regional markets, the Nikkei Index plunged 110.2 points, or 0.38 percent, to reach 28,523.26; the Hang Seng Index rose 320 points, or 1.08 percent, to 29,962.46; while the Straits Times Index added 2.85 points, or 0.1 percent, to reach 2,998.77. (INE)

Source: Antara News