JSX index at highest level in six years<\/p>\n
JAKARTA (JP): Share prices at the Jakarta Stock Exchange (JSX)
\ncontinued gaining ground yesterday, with most share prices rising
\nin active trading.<\/p>\n
The JSX Composite Index gained 0.8 percent to close at 686.12,
\nits highest level in six years, from 680.88 the previous day.<\/p>\n
The index's previous high was 681.944 in April 1990 when the
\ncountry's largest automotive company Astra International made its
\ncapital market debut.<\/p>\n
Yesterday's turnover reached 402.4 million shares worth Rp
\n756.2 billion (US$320 million).<\/p>\n
Securities analysts said yesterday that buying sentiment was
\nfueled by rising prices on the New York Stock Exchange and
\nseveral Asian markets, besides the improved financial performance
\nof major listed companies.<\/p>\n
The big capitalized stocks like BNI, HM Sampoerna, Gudang
\nGaram, Tambang Timah and PT Telkom were among the most favored
\nstocks yesterday.<\/p>\n
PT Tambang Timah gained Rp 25 to close at Rp 4,125 following
\nnews that the tin mining company had expressed interest in
\njoining the Busang gold mine in East Kalimantan.<\/p>\n
PT Telkom's share price gained ground on news that the company
\nwould set up a cable TV network with three other private firms
\nincluding Asriland, Telekomindo Bakti and the private television
\nstation RCTI.<\/p>\n
\"The news about the planned joint venture stimulated sentiment
\nto buy Telkom's shares,\" an analyst at a joint-venture brokerage
\nfirm said.<\/p>\n
Telkom shares rose Rp 100 to close at Rp 4,250 yesterday.<\/p>\n
Bank BNI's shares also strengthened to close at Rp 1,575 as
\ninvestors were confident that the bank's profit would exceed its
\ninitial target.<\/p>\n
Jasmine Tedja from HSBC securities said that yesterday's
\ntrading was also colored with a change in the buying mood from
\nbig capitalized stocks to second and third line stocks.<\/p>\n
Second line stock Zebra Taksi rose from Rp 3,750 to Rp 4,650.
\nCentris Multi Persada gained Rp 725 to close at Rp 2,800 compared
\nto Rp 2,075 the previous day.<\/p>\n
Budi Acid Jaya rose from Rp 2,900 to Rp 3,200, Hotel Prapatan
\nclosed at Rp 2,125 from its previous day's close of Rp 1,900.<\/p>\n
Securities analysts predicted that share prices on the JSX
\nwould continue gaining ground in the next few days because of the
\nstronger presence of foreign investors.<\/p>\n
They said that Federal Reserve Chairman Alan Greenspan's
\nstatement on Tuesday that the U.S. economy posed no immediate
\ninflationary threat would support the local market.<\/p>\n
The Dow Jones Industrial Average of blue chip issues was up
\n30.79 points to 6,874.66 in early afternoon trading on the impact
\nof the Greenspan's comments.<\/p>\n
This incited buying sentiment in most of Asia's major markets
\nincluding the JSX. (09)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/jsx-index-at-highest-level-in-six-years-1447893297",
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