Jakarta Index Closes Higher

Jakarta, Aug 20 (Antara) - The Jakarta composite index (JCI) closed 0.48 percent higher at 5,190.16 points on Wednesday. The index of the Indonesian Stock Exchange (BEI) increased with security favorable ahead of the Constitutional Court announcing its decision on presidential election dispute, analysts said. The Constitutional Court is to announced its decision, who is to be the country`s next president and vice president. The Election Commission (KPU) has declared Jakarta Governor Joko Widodo victor of the July 9 presidential election , but rival candidate Prabowo Subianto , disputed the KPU decision. Prabowo accused KPU of being unfair and that the election had been massively and systematically rigged. Thousands of police officers have been assigned to maintain security in the capital city and the Constitutional Court compound has been cordoned off by police guards over the past two weeks while the court examination was in process. Meanwhile the index of 45 most liquid stocks rose 0.66 percent to 886.50 points. Head of Research of Valbury Asia Securities Alfiansyah said the market hoped that security would remain conducive ahead and after the decision of the Constitutional Court. Statements by both presidential candidates that they would accept the court decision helped create a favorable condition, Alfiansyah said. Trade on Wednesday at the BEI was recorded with 210,047 transactions and 3.38 billion shares worth Rp4.14 trillion changing hands. Gainers outnumbered decliners by 181 to 129 shares with 100 shares remaining flat. Regional markets such as Hang Seng, Nikkei and Straits Times recorded an increase in index.