Jakarta Index Up 0,65 Percent

Jakarta, Dec 30(Antara) - The rupiah value was unchanged against the US dollar in the opening trade on Monday, analysts said. The currency traded at the level of 12,274 per US dollar in interbank transactions in the first minute of trading on Monday, chief researcher of Trust Securities, Reza Priyambada, said. "Ahead of the year-end the rupiah value tended to be flat, but there is a possibility of greater pressure with higher US economic growth in the third quarter," Reza said. The impact of the Fed trimming its massive financial stimulus also still continues to shadow the rupiah movements, he said . The Fed has decided to reduce its bond buying program from US$85 billion to US$75 billion a month starting January, 2014. "In addition there has been no domestic sentiment to revive weak rupiah," he said. Financial market analyst from Bank Himpunan Saudara, Ruly Nova, said he believed Bank Indonesia would protect rupiah from diving deeper because of the Fed`s tapering decision He said the second phase of the government economic policy on adjustment of income tax and simplification of licensing procedure and facility for imports of basic materials for export commodities could shore up rupiah in long term. Meanwhile, the Jakarta composite index rose 0.65 percent in the opening trade on Monday. The index of the Indonesian Stock (BEI) was 27.41 points higher at 4,240.39 points from last weekend closing with the index of 45 most liquid stocks up 1.01 percent to 708.54 points.