General sentiment continues deteriorating on the JSX<\/p>\n
By Sigma Batara<\/p>\n
JAKARTA (JP): General market sentiment continued deteriorating
\nlast week with most foreign houses carrying net selling orders.<\/p>\n
Jaya Real Property, listed last week, was traded about two
\npercent above its initial public offering (IPO) price despite
\nforeign selling pressure on the other counters.<\/p>\n
The weaknesses of U.S. dollar against the surging yen was bad
\nnews for the regional markets. This heightened fears that the
\nU.S. Federal Reserve may raise short term interest rates again.<\/p>\n
As stock markets across Asia tumbled with the U.S. dollar, the
\nJakarta Stock Exchange Composite Index dropped 10.13 points from
\nthe previous week to close at 458.74. However, a few counters
\nsuch as JIHD, Barito Pacific Timber and Surabaya Agung were well-
\nsupported towards the end of the week.<\/p>\n
Average daily turnover on the regular board decreased to 4.7
\nmillion shares worth Rp 20.73 billion (US$9.60 million) last week
\nfrom 4.6 million shares worth Rp 20.82 billion in the previous
\nweek.<\/p>\n
Last weeks' total turnover increased to 63.17 million shares
\nvalued at Rp 325.08 billion from 45.11 million shares valued at
\nRp 232.03 billion in the previous week.<\/p>\n
Foreign investors still dominated selling positions except for
\nseveral counters. Stocks that took severe beatings by foreign
\nsellers were Astra International Indonesia, Gudang Garam, Semen
\nCibinong, Mayora Indah, Putra Surya Perkasa, Bank Mashill,
\nPolysindo, Texmaco, Anwar Sierad and Barito Pacific Timber.<\/p>\n
Others that were actively traded or recovered were Matahari,
\nJaya Real Property, Indorayon, Mulia Industrindo, JIHD and Barito
\nPacific Timber.<\/p>\n
Local investors were generally back riding foreign investors
\nand still reluctant to initiate the turning point. Some of the
\ncounters that local investors consistently accumulated were
\nSurabaya Agung, Barito Pacific Timber, Ganda Wangsa Utama, BDNI,
\nTjiwi Kimia and Mas Murni Indonesia. Other actively traded
\ncounters by domestic investors were Rig Tenders, Inco, Bank Papan
\nSejahtera and Indah Kiat.<\/p>\n
Bakrie & Brothers' 4-for-1 rights shares were listed last week
\nat an offering price of Rp 6,500 per share.<\/p>\n
Among last week's best performers were Tancho Indonesia (up Rp
\n750), Bayer Ord. (up Rp 400), Ometraco Finance and Polysindo
\n(both up Rp 275) and BBL Dharmala and Lion Mesh P. (both up Rp
\n250).<\/p>\n
The biggest losers were Mayora Indah (down Rp 1,300), Indorama
\n(down Rp 1,000), Kalbe Farma (down Rp 650), Bank Niaga and Ades
\nAlfindo (both down Rp 600) and Ugahari (down Rp 500). Losers
\noutnumbered gainers by 77 to 24, while 17 remained unchanged.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/general-sentiment-continues-deteriorating-on-the-jsx-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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