IHSG sinks 2.56 points Wednesday amid increase in global shares

Jakarta (ANTARA) – The Jakarta composite share price index (IHSG) opened lower, Wednesday, with the Indonesian Stock Exchange (BEI) index tumbling 2.56 points, or 0.04 percent, to 6,460.27, in the midst of an increase in global shares.

This south-facing movement was also witnessed in the index of the 45 most liquid stocks, tumbling 0.51 points, or 0.04 percent, to 1,021.99.

Chief researcher of Valbury Sekuritas, Alfiansyah has projected the Jakarta Stock Exchange’s index on Wednesday to be significantly buoyed by sentiments towards issuers’ 2019 first-quarter profit statements.

“Regardless of external sentiments and the ebbing stock market euphoria over the presidential election some days back, the market is laying its focus largely on issuers’ 2019 first-quarter profit statements that may become one of the catalytic factors for the market in today’s share trading,” he pointed out.

On the external side, rising concerns over a spike in the global crude price is expected after the United States decided to not renew any waivers for importing Iranian oil when they expire on May 2. Consequently, nations will reel under US’ sanctions if found purchasing Iranian oil.

“The US’ step may weigh heavy on peace and stability in the region,” Alfiansyah cautioned. In regional markets, the Nikkei Index strengthened 38.46 points, or 0.17 percent, to 22,298.2; Hang Seng weakened 0.01 points to 29,963.2; and the Straits Times Index rose 4.49 points, or 0.13 percent, to 3,357.96.

Source: ANTARA News