JSX composite index falls<\/p>\n
JAKARTA (JP): The Jakarta stock market continued to fall
\nyesterday with the JSX Composite Index tumbling to a three-month
\nlow of 633.28 in morning trade.<\/p>\n
But the key indicator regained ground in afternoon trade to
\nclose at 636.64, down fractionally from 637.42 on Friday.<\/p>\n
One broker said trade was unusually low with only 7,600
\ntransactions.<\/p>\n
\"It represents only one third of the regular daily frequency
\nas many investors stayed sidelined,\" he said.<\/p>\n
Sigma Batara analyst Fadjar L. Soetanto predicted the market
\nwould drop further before the May 29 general election.<\/p>\n
\"It could go down as low as 620,\" he said.<\/p>\n
He said investors were waiting for further drops before buying
\nundervalued stocks.<\/p>\n
He said recent troubles like last week's riots in Pekalongan,
\nCentral Java, would flood the market with negative sentiment.<\/p>\n
Investors were also expecting a further rise in U.S. interest
\nrates on top of the 25 basis point rise which came on March 25,
\nhe said.<\/p>\n
\"Historically, if there has been an increase in U.S. interest
\nrates, another increase will follow in the coming months,\" he
\nsaid.<\/p>\n
Turnover plummeted to 141.61 million shares from 167,73
\nmillion last Friday.<\/p>\n
Shares worth Rp 302.27 billion (US$ 127 million) changed
\nhands, down from Rp 342.20 billion.<\/p>\n
In the money market, the rupiah was stable against the dollar
\nin late trade as traders stayed long on dollars after the rupiah
\nwent reeling last week on rumors about President Soeharto's
\nhealth.<\/p>\n
Dealers said the market had stabilized and the swap rate
\nindicated the central bank slightly easing liquidity.<\/p>\n
Spot rupiah prices were 2,405.00\/05.25 after opening at
\n2,404.50\/04.85. (09)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/jsx-composite-index-falls-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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