Jakarta (ANTARA News) - Indonesian share prices are expected to rise next week amid volatility in regional markets, an analyst said Wednesday.
The Jakarta composite index is expected to rise on the back of a strong upward trend in the New Year, which has defied the pattern in much of Asia, Batavia Prosperindo analyst Suherman Santikno told AFP.
"The Indonesian market is quite unique. While regional markets have suffered corrections, Indonesia and also India have trended upward, especially in 2008," he said.
Hefty profits from agriculture and mining exports due to rising global prices for commodities, including oil, were driving the local market upward, Santikno said, adding that the trend would likely continue into next week.
Price stability and Indonesia's positive economic growth were also adding to good market sentiment, he said.
For the week ending January 9, the Jakarta Stock Exchange composite index gained 2.35 percent to 2,830.26 points.
Daily average volume was 2.51 billion shares valued at 3.10 trillion rupiah (328.6 million dollars).
Santikno said the market may face resistance at 2,900, with support at 2,800. (*)
The Jakarta composite index is expected to rise on the back of a strong upward trend in the New Year, which has defied the pattern in much of Asia, Batavia Prosperindo analyst Suherman Santikno told AFP.
"The Indonesian market is quite unique. While regional markets have suffered corrections, Indonesia and also India have trended upward, especially in 2008," he said.
Hefty profits from agriculture and mining exports due to rising global prices for commodities, including oil, were driving the local market upward, Santikno said, adding that the trend would likely continue into next week.
Price stability and Indonesia's positive economic growth were also adding to good market sentiment, he said.
For the week ending January 9, the Jakarta Stock Exchange composite index gained 2.35 percent to 2,830.26 points.
Daily average volume was 2.51 billion shares valued at 3.10 trillion rupiah (328.6 million dollars).
Santikno said the market may face resistance at 2,900, with support at 2,800. (*)
Copyright © 2008 ANTARA
No comments:
Post a Comment