Indonesian Index Up

Jakarta, Oct 8 (ANTARA) - The Indonesian Stock Exchange (BEI) opened trade this morning with share prices extending gain driven by domestic shares, analysts said. The composite share price index of BEI rose 0.02 percent to 4,312.21 points with index of 45 most liquid stocks up 0.03 percent to 745.06. Last week, the BEI index closed 0.93 percent higher at 4,311.31 points with transaction worth Rp5.42 trillion. "Demography-based shares were the drivers of BEI index," Samuel Sekuritas` analyst Lana Soelistianingsih said here on Monday. Lana said people of productive age are larger in number than those of productive age. Meanwhile, high household consumption as a result of increase in people`s income, continued to push up demand, she said. "Share of companies operating in the transport sector also gained," she said. She expressed concern that high public consumption could trigger economic overheating although Bank Indonesia still believes the economy still has room for safe growth as the credit ratio to the country`s Gross Domestic Product (GDP) is still below 30 percent. "Our position is still low compared to ASEAN neighboring countries, which already reached 100 percent of GDP," she said. Trust Securities` analyst Reza Priyambada said although technically the BEI index has increased, the rise has created gap as normally any new crossing of resistance would be followed with profit taking that could hamper index uptrend . Regional markets Hang Seng recorded decline index 0.60 percent to 20,886.50 points, with Nikkei-225 index up 0.44 percent to 8,863.30, and Straits Times down 0.57 percent to 3,090.40 points.