Indonesia composite index strengthens in lead-up to polling day

Jakarta (ANTARA) – The Indonesia composite index (IDX) strengthened by 5.57 points, or 0.09 percent, to 6,440.72, on Monday, in the run-up to the election day on Wednesday, Apr 17.

In the interim, the index of the 45 prime bonds, or “LQ45,” also recorded a rise of 1.21 points, or 0.12 percent, to 1,014.48.

Head of Research at Valbury Securities, Alfiansyah, remarked here on Tuesday that external factors concerning developments in the US-China trade agreements coupled with domestic sentiment regarding the general elections will weigh heavy on the direction of the stock market index today.

The United States’ tapered stance towards China during their trade discussion is estimated to have a positive impact on the global market. It can have a catalytic effect on the IDX, despite the market yet in the wait-and-watch mode for outcomes of the presidential election, he pointed out.

US negotiators had tempered their demand against China in the peace discussions to allay the trade war after strong resistance from Beijing to their request. The measure was also adopted in the face of the thorny issue of China’s industrial subsidies.

China is known to grant subsidies and tax breaks to state-owned firms and sectors viewed as being strategic for long-term development.

Among the Asian regional exchanges, the Nikkei Index rose 39.66 points, or 0.18 percent, to 22,208.77; Hang Seng Index slid 75.33 points, or 0.25 percent, to 29,735.39; while the Straits Times Index gained 6.13 points, or 0.18 percent, to 3,331.99. EDITED BY INE

Source: ANTARA News