JCI rallies upon opening despite declines in other Asian markets

first_imgThe Jakarta Composite Index (JCI) was rallying up upon opening on Thursday, closing mid-day trade up 9.62 percent, despite other Asian indices recording declines during the day.The Indonesia Stock Exchange’s (IDX) main gauge skyrocketed by 5.61 percent to 4,158 at 9:03 a.m. and was showing no signs of slowing as it continued to reverse the 1.3 percent loss it experienced on Tuesday. The local stock exchange was closed Wednesday for the Nyepi (the Hindu Day of Silence).The JCI closed mid-day trade at 4,316, a 9.62 percent from Tuesday’s close. Foreign investors helped to prop the index up during the day as they bought Rp 405.87 billion (US$25 million) worth of Indonesian shares. Many of them were buying blue-chip banking stocks like those of private lender PT Bank Central Asia (BCA) and state-owned lenders PT Bank Rakyat Indonesia (BRI) and PT Bank Mandiri.This also resulted in BCA’s stock rallying by 17.67 percent. Pharmaceutical firms PT Kimia Farma recorded a 23.08-percent gain and PT Indofarma skyrocketed by 23.3 percent.JCI’s jump during the day was going against most Asian indices that moved into the red. Japan’s Nikkei recorded the biggest decline of 3.76 percent, while Hong Kong’s Hang Seng index and Singapore’s Strait Times index were losing more than 1 percent of their value on the day.Read also: BI injects $18.19b liquidity into financial markets, banks as rupiah slidesIDX trading director Laksono Widodo said that the JCI’s rally was following most of global markets movement the day before.“When our market was closed on Wednesday [for the Day of Silence], major markets worldwide recorded high increases, especially in the United States as the country agreed to give more incentives for its people. The JCI followed that pattern,” he explained in a text message.The Dow Jones and S&P 500 index closed in the green for the second time in a row on Wednesday as the US Senate appeared to come near to voting on a $2 trillion package to support businesses and households devastated by the COVID-19 pandemic.“What the fiscal and monetary stimulus has done is to allow the market to recover,” said Justin Hoogendoorn, head of fixed income strategy at Piper Jaffray in Chicago, as quoted by Reuters. “It’s not because the main street community is coming back. It’s the institutional crowd being able to say, ‘the world isn’t falling apart’.”Despite still being haunted by the coronavirus pandemic that has infected more than 790 people and killed 58 in Indonesia, Indonesia Equity Analyst Association chairman Edwin Sebayang said the JCI’s gain was influenced by the increase in oil prices.“The increase in prices on other commodities like nickel, tin, gold, coal and crude palm oil [CPO] also became a positive sentiment for the JCI today,” he said.The index’s gain went in line with the rupiah, which strengthened by more than 1 percent to Rp 16,277 per United States dollar on Thursday as of 12:45 p.m., continuing its appreciation on Tuesday.Topics :last_img read more

NRL legend Gorden Tallis sells suburban investment property

first_img18 Binyara St, Chapel HillThe new owners of the property received a signed rugby jersey from Tallis. Gorden Tallis signs a rugby jersey for the new owners of his Chapel Hill home. Photo: SuppliedNRL legend Gorden Tallis has successfully offloaded his Chapel Hill home for $1.005 million.The six-bedroom, two-bathroom property at 18 Binyara St went to auction on September 16 in front of a crowd of 50 people, including Tallis himself. Gorden Tallis. Picture: Dylan RobinsonThe property is in a quiet cul-de-sac which neighbours bushland.Tallis loved the area and said it had been very convenient to everything including Indooroopilly Shopping Centre and was close to schools and services and not far from the city.center_img More from newsMould, age, not enough to stop 17 bidders fighting for this homeless than 1 hour agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investorless than 1 hour agoThe spacious home at 18 Binyara St, Chapel HillPlace — Graceville selling agent Liz Browning said there were six registered bidders on the day.Tallis bought the home as an investment in 1997, but it eventually became the family home for about five or six years.last_img read more

Cricket News Sunil Gavaskar backs Shane Warne’s decision to play Rishabh Pant as opener

first_imghighlights BCCI will announce the squad for the upcoming series against Australia today. The senior players are likely to be rested for the series. The toss up is between KL Rahul and Rishabh Pant for reserve opener spot.  For all the Latest Sports News News, Cricket News News, Download News Nation Android and iOS Mobile Apps. New Delhi: The upcoming limited overs series against Australia will be India’s last opportunity to get their combinations right before the forthcoming World Cup in England. The Board of Control for Cricket in India (BCCI) selection committee will announce the squad for T20 and ODI series today and it is widely reported that a number of senior players will be rested for this series. It’s known that the swashbuckling opener Rohit Sharma is all set to be rested. This means the likes of KL Rahul and Ajinkya Rahane may get a final cut in the squad. However, India legend Sunil Gavaskar backed the young sensation Rishabh Pant and feels India can try a gamble by giving Rishabh Pant an opportunity to open. Recently, Australian sensation Shane Warne had said that Pant can be a good choice as an opener and Gavaskar has backed him by giving a nod to the idea.”Yes, why not. If you open with Rishab Pant, it opens up a third option for you as well. If he does well at the top, he is someone who can also be played in the middle order,” Gavaskar told India Today.”I can’t see why Rishabh Pant can’t play as a batsman. He is outstanding. Maybe even open the batting with Rohit Sharma. I know Shikhar Dhawan does a great job but Rishabh Pant opening the batting with Rohit Sharma could be pretty cool too for India. Go with some of these X-factor type things and tactical battles where you surprise the opposition,” he added. Pant had a great outing against Australia in the Test series scoring 350 runs at an average of 58.33. His dream run also includes a blistering century in the final Test. Following this, he also had a decent run against England Lions in the ODI series back home. He was also included in the T20 squad against New Zealand. With less than four months for the World Cup to start, this can be the last opportunity to see what he is capable of. The team management had tried Rishabh Pant against Windies in a home series but didn’t perform to his standards and eventually was dropped in the coming series. This remains to be seen if BCCI goes on his recent form and give him that much-needed extended run. last_img read more

Dundalk lose to AZ Alkmaar

first_imgDunalk manager Stephen Kenny says last nights 1-0 defeat to AZ Alkmaar in Tallaght was their worst performance in Europe so far this season.The Lillywhites destiny is no longer in their own hands however they can still reach the last 32 if they get a score draw away to Maccabi Tel Aviv and Zenit beat Alkmaar in two weeks time.Kenny says his side showed some fight in the second half but it wasn’t enough. Meanwhile, Manchester United seem to have finally found their feet in Europe. Their 4-nil trouncing of Feyenoord means Joses Mourinho’s side need only a draw away to Zorya on the final night of group games. Elsewhere, Tipperary’s Shane Long played the full 90-minutes of Southampton’s 1-nil loss away to Group K leaders Sparta Prague. The Saints welcome Hapoel Beer Sheva to St. Mary’s in a fortnight for what will effectively be a play-off for a knockout spot.last_img read more