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The Composite Stock Price Index (JCI) of the Indonesia Stock Exchange (IDX) closed higher on Thursday afternoon, led by the transportation and logistics sectors.

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"The majority of stock indexes in Asia this afternoon closed lower after a number of releases of US economic data sparked expectations that the US central bank The Federal Reserve will withdraw massive financial support and raise benchmark interest rates sooner than the market anticipated," wrote Phillip Research Team. Securities in its review in Jakarta, Thursday.

Data on initial jobless claims showed a sharp fall in the number of people laid off to a five-decade low, accompanied by a spike in consumer income and spending.

This not only reinforces optimism that the economy is on a fast track to economic recovery, but also adds to pressure for the Fed to prevent the US economy from overheating.

The text of the Fed's policy meeting this month released last night indicated the Fed is ready to raise its benchmark interest rate more quickly if needed to cool inflation. During the meeting, central bank officials said they would not hesitate to respond to a spike in inflation.

Opened higher, JCI felt at home in the green zone throughout the first session of stock trading. In the second session, JCI was still in positive territory until the closing of the stock market.

Based on the IDX-IC Sectoral Index, seven sectors increased where the transportation & logistics sector rose the most at 3.56 percent, followed by the infrastructure sector and the industrial sector at 1.09 percent and 0.78 percent, respectively.

Meanwhile, four sectors were corrected, in which the property & real estate sector fell the most at minus 1.21 percent, followed by the technology sector and the non-primary consumer goods sector, each minus 1.09 percent and minus 0.7 percent.

The closing of the JCI itself was accompanied by selling of shares by foreign investors as indicated by -

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