Jakarta Index Up 0.05 Percent

Jakarta, Jan 6 (Antara) - The Jakarta composite index opened higher on Monday but reversed later in the day to follow the trend in the majority of markets in Asia. In the first minute of trading the index of the Indonesian Stock Exchange (BEI) rose 1.91 points or 0.05 percent to 4,259.58 points with the index of 45 most liquid stocks up 0.07 percent to 709.84 points. However, at 09.30 local time the BEI index fell 0.50 percent to 4,236.56 points, chief researcher of the Trust Securities, Reza Priyambada, said. Reza predicted the BEI index this week would be determined by inflation data in Europe and China`s "Purchasing Managers Indexs" (PMI) yet to be released. "Hopefully the data to be released would have positive impact for the capital market and the BEI index would move at 4,232--4,300 points today," he said. Samuel Sekuritas` analyst Benedictus Agung said the statement of the Fed Governor Philadelphia that US policy of low interest rate must be immediately stopped contributed to negative sentiment in the market. In addition there was no significant positive sentiment in the domestic financial and bond markets that the BEI would continue to tend to be on the decline, Benedictus said. Regional markets such as Hang Seng posted a 0.75 percent fall in index to 22,645.12 points with Nikkei index down 2.45 percent to 15,888.68 points and that of Straits Times gaining 0.14 percent to 3,135.70 points.