Jakarta Index Up Slightly , Rupiah Slips

Jakarta, Aug 20 (Antara) - The Jakarta composite index (JCI) opened slightly higher on Wednesday on positive external sentiments, analysts said. The index of the Indonesian Stock Exchange rose 2.42 points or 0.05 percent to 5,167.59 points with index of 45 most liquid stocks up 0.07 percent to 881.31. Asjaya Indosurya Securities` analyst William Surya Wijaya said the JCI extended gain to follow the trend in global markets and return of foreign investors to the domestic market. He predicted the trend would continue in the following days. Chief researcher of Trust Securities Reza Priyambada said the market players are awaiting the announcement of the decision of the Constitutional Court on presidential election dispute. The court is to announce its final decision on Thursday on who is to be the president of the country in the next five years. "The JCI is expected to continue to be on the rise yet," Reza said. Regional markets such as Hang Seng recorded a decline in index but Nikkei and Straits Times recorded gain. Meanwhile rupiah in inter-bank transaction fell in value against the US dollar in the first minutes of trading on Wednesday. The Indonesian currency traded at the level of 11,694 per US dollar weakening from earlier level of 11,679 per dollar. Chief researcher of Monex Investindo Futures Ariston Tjendra said the US dollar strengthened against the currencies of developing countries on improvement recorded in US housing data. In addition, the market expectation of the US economy is improving resulting an increase in the Fed interest rate.