It's an up and down business at JSX<\/p>\n
JAKARTA (JP): When the Jakarta Stock Exchange (JSX) opened
\nlast Monday, share prices plunged in line with the falling U.S.
\ndollar and the surprise announcement on increases in cement
\nreference prices.<\/p>\n
However, shares rebounded towards the end of the week as
\ninvestors reentered the market for some bargains. Shares closed
\nmixed at the end of last week with the JSX Composite Index
\nclosing at 428.99, up 0.35 points (0.08 percent) from the week's
\nopening of 428.64.<\/p>\n
The rebound last week was also brought up by gains in the
\nregional markets and expectation of significant efforts to
\nsupport the dollar, which was expected to stabilize over the
\nshort term.<\/p>\n
Most investors seem to agree that the market has hit its
\nlowest this year and that a potential upside is very likely,
\ngiven the country's strong economic fundamentals and healthy
\ncorporate earnings growth.<\/p>\n
Looking forward, a side-way direction for the index is likely
\nin the short term. Sentiment is still volatile and will depend on
\nthe performance of the regional bourses and the stability of
\nthe dollar.<\/p>\n
Local players' activities were moderate and continued to be
\nconcentrated on property stocks. Counters which were
\nactively traded by local players included BDNI, Mayatexdian,
\nLippoland, Duta Anggada, Pakuwon Jati, PSP and Dharmala Intiland.<\/p>\n
Foreign investors were slightly more calmer given the Japanese
\ninterest rate cut, which provided some support to the dollar.
\nCounters which saw active trading by foreigners included CMNP,
\nJababeka, SMART, HM Sampoerna, Indosat, Indofood, Indocement,
\nBDNI, Inco, Lippoland, Gadjah Tunggal, PSP and Duta Anggada.<\/p>\n
Average daily turnover on the regular board decreased to 11.24
\nmillion shares worth Rp 38.78 billion (US$17.47 million) from
\n13.91 million shares worth Rp 42.46 billion in the previous week.<\/p>\n
Last week's total turnover increased to 124.78 million shares
\nvalued at Rp 455.26 billion from 112.12 million shares valued at
\nRp 393.07 billion in the previous week.<\/p>\n
Some of last week's best performers were HM Sampoerna (up Rp
\n600), Inti Indorayon (up Rp 550), Gudang Garam, Indofood and
\nSemen Cibinong (up Rp 400 each) and Steady Safe (up Rp 375).<\/p>\n
The biggest losers were Dankos Lab (down Rp 1,100), Bank Niaga
\n(down Rp 1,000), Ultra Jaya (down Rp 700), Bank Bali (down Rp
\n625) and Tigaraksa (down Rp 500).<\/p>\n
Losers outnumbered gainers by 79 to 34, while 26 remained
\nunchanged.<\/p>\n
-- Sigma Batara<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/its-an-up-and-down-business-at-jsx-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }