Indonesia's Main Stock Index Rises 0.36% on Last Day before Holiday
On the last day before a week-long holiday, Indonesia's main stock index (IHSG) rose by 0.36 percent to 4,640.78 points on Friday (02/08). Although it was a relative quiet trading day, the performance was in line with today's performance of other Asian indices as well as European and American indices on Thursday (01/08). Stocks in the country's basic industries sector provided most support to the rise of the index. The Asian market still felt the positive impact of the Federal Reserve's announcement that it will continue the quantitative easing program.
Of all Asian indices, Japan's Nikkei posted the strongest growth with 3.29 percent. Japan's index is on a high as exporting companies have shown good corporate results due to the depreciated yen. The Nikkei was also supported by positive sentiments on Wall Street and Europe yesterday. Good industrial figures from the USA, Europe and China in combination with central banks' intention to continue their supportive policies towards the economies relieved many investors.
The Indonesia Stock Exchange (IDX) will be closed from 5 August 2013 to 9 August 2013 due to the Islamic Idul Fitri celebrations that follow the holy fasting month of Ramadan. Trade will resume on Monday 12 August 2013.
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