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  • Jakarta index closes higher on Friday

    Jakarta index closes higher on Friday

    The Jakarta composite index (JCI) closed 42.61 points higher on Friday on selective buying by market players.

    The index of the Indonesian Stock Exchange rose 0.96 percent to 4,456.74 points with index of 45 blue chips up 1.48 percent to 779.31 points.

    Selective buying of big capitalization shares pushed up the JCI slightly, HD Capital analyst Yuganur Wijanarko said.

    “In addition, share prices in foreign markets generally rose on oil prices being on the increase lately , prompting market players on the domestic market to buy shares< he said.

    The price of WTI on Friday afternoon rose 4.3 percent to S$30.80 per barrel and Brent pri9ce was up 5.09 percent to US$30.74 dollar.

    Satisfaction expressed by the Capital Investment Coordinating Board (BKPM) with the achievement in direct investment to Rp545.4 trillion in 2015 gave positive sentiment to the market.

    In 2016, BKPM set growth target at 9.3 percent for direct investment to Rp594.8 trillion .

    There were 213,493 transactions in the market on Friday with 4.07 billion shares valued at Rp5.25 trillion changing hands .

    Regional markets such as Hang Seng, Nikkei and Straits Times recorded gain in index.

    Meanwhile the national currency rupiah closed stronger trading at 13,834 per U.S. dollar gaining from the previous level of 13,906 per dollar.

    “Rising trend of oil prices propped up the currencies of emerging countries ,” financial market observer from Bank Himpunan Saudara, Rully Nova, said.

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  • Thailand’s Consumer Sentiment Sees First Improvement in 10 Months in October

    Thailand’s Consumer Sentiment Sees First Improvement in 10 Months in October

    Thailand’s consumer sentiment recovered for the first time in 10 months in October, thanks to the government’s continued introduction of economic stimulus measures.

    The University of Thai Chamber of Commerce said Thursday that the consumer confidence index rose to 73.4 in October from 72.1 in September, when the index hit its lowest level in 16 months. The monthly consumer confidence report is based on a survey of 2,244 respondents.

    Thanavath Phonvichai, director of the university’s Economic and Business Forecasting Center, told a news conference that the government’s continued introduction of a series of economic stimulus packages has helped boost consumer confidence.

    In the past few months, the Junta-installed government has unveiled a number of short-term economic stimulus measures, including a 136 billion baht ($3. 8 billion) package aimed at low-income households, a 10 billion baht ($282 million) budget to boost the property sector and new tax incentives for the private sector to speed up or increase investments.

    Deputy Prime Minister Somkid Jatusripitak, who is in charge of the economy, said this week that the government is confident that all measures will start yielding fruit from the fourth quarter of this year.

    Mr. Thanavath of the Thai Chamber of Commerce University said falling retail oil prices and a rebound on the Thai stock market have also helped improve sentiment.

    However, he noted that while the university believes the country’s economy might have bottomed out, its growth outlook remains fragile.

    The government has forecast the Thai economy will grow between 2.7% to 3.2% in 2015.

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  • Index seals deal for Philippines

    Index seals deal for Philippines

    Thai homewares giant Index Living Mall has signed a Philippines partner as its Asian expansion continues.

    Index will team up with the Philippines largest retail and mall operator SM Group to run the franchise for the concept for at least five years.

    Index managing director Kridchanok Patamasatayasonthi told the Bangkok Post newspaper Index chose the Philippines due to its huge market potential.

    “There’s no furniture or furnishings chain like us in the country, just small local and imported furniture stores.”

    Index opened its first store in Vietnam about three years ago and its first in Malaysia last month, in the capital city of Putrajaya. It plans 30 stores across Malaysia over a 15-20 year timeline.

    The company is also eyeing opportunities in Indonesia and hopes to double its foreign sales within five years. It will soon have 25 stores in its home market.

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