Jakarta stocks to move sideways<\/p>\n
Agence France-Presse, Jakarta, Singapore<\/p>\n
Indonesia's stock market is expected to trade sideways this
\nweek on concerns about possible violence when election
\ncampaigning starts, analysts said.<\/p>\n
"There is a potential for investors to move sideways while
\nthey wait and see for potential trouble during the campaign
\nperiod," BCI Securities analyst Lorensius Chrisbiantoro said over
\nthe weekend.<\/p>\n
Campaigning for the April 5 legislative elections starts next
\nThursday.<\/p>\n
Any major unrest could prompt "a significant correction," he
\nsaid.<\/p>\n
BNI Securities analyst Fitri Murniawati also said the market
\nwill tend to consolidate as investors wait out the campaigning
\nperiod.<\/p>\n
The Jakarta Stock Exchange composite index closed on Friday at
\n778.010, up 16.929 points or 2.2 percent from the previous on
\nFriday. Average daily volume was 2.12 billion shares worth Rp
\n931.7 billion (US$108.3 million) compared with 3.3 billion shares
\nworth Rp 1.39 trillion the previous week.<\/p>\n
Meanwhile in Singapore, share prices are expected to
\nconsolidate due to the absence of market-moving leads and to
\nallow for a breather.<\/p>\n
The Straits Times Index (STI) closed at 1,891.54 on Friday, up
\njust 2.91 points from the previous week.<\/p>\n
"There are no catalysts to bring the stock market any higher.
\nSingTel alone has kept the index up for the past few weeks, but
\nthere shouldn't be much more upside left (to the stock)," said
\nKim Eng Securities research head Seah Hiang Hong.<\/p>\n
Singapore Telecommunications Ltd. (SingTel) had been in the
\nspotlight during the week following news of Belgacom's impending
\ninitial public offering (IPO).<\/p>\n
Last week, average daily volume totaled 870.82 million shares
\nvalued at S$852.69 million ($498.65 million), down from 1.05
\nbillion shares worth S$892.12 million the week earlier.<\/p>\n
In Tokyo, Japanese share prices are likely to rise on the
\ncountry's improving economic fundamentals and a fall in the yen.<\/p>\n
"Investors are buying (Tokyo) stocks due to improving economic
\nfundamentals in Japan rather than chasing movements in New York,"
\nsaid Kazunori Jinnai, equity department chief at Daiwa Securities
\nSMBC.<\/p>\n
"Share prices are likely to firm next week," Jinnai said.<\/p>\n
The Tokyo Stock Exchange's Nikkei-225 index jumped last week
\n495.37 points or 4.49 percent to a 21-month high of 11,537.29
\nwhile the broader Topix index of all first section issues rose
\n48.54 points or 4.48 percent to 1,131.01.<\/p>\n
Hong Kong shares meanwhile, are expected also to trade
\nrangebound this week as the market continues to consolidate its
\nrecent gains.<\/p>\n
Stocks would stabilize at the 13,500-13,500 level, as the
\nmarket retreats in the absence of fresh news, they said.<\/p>\n
Last week, the Hang Seng Index fell by 452.27 points or 3.25
\npercent to close on Friday at 13,454.76.<\/p>\n
In Kuala Lumpur, Malaysian stock prices are likely to gain
\nground but trading on the bourse is likely to be choppy,
\npunctuated by bouts of profit-taking.<\/p>\n
"While the heavyweights will continue to be market leaders,
\nactivity in the lower liners would remain light and limited to
\nselective stocks," said Victor Wan, senior analyst with Mercury
\nSecurities.<\/p>\n
Another dealer said the bourse was expected to edge upwards
\ndue to the expectations of a resounding victory for the ruling
\nparty and the improving market sentiments brought about by the
\neconomic resilience.<\/p>\n
The Kuala Lumpur Stock Exchange composite index rose 6.91
\npoints in the past week to close Friday at 886.15.<\/p>",
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