JSX prices lose ground on profit taking<\/p>\n
JAKARTA (JP): Share prices on the Jakarta Stock Exchange (JSX)
\nclosed 0.9 percent lower yesterday as investors started taking
\nprofits.<\/p>\n
A dealer at a foreign brokerage firm said the market had
\nremained strong but colored with profit taking on big capitalized
\nstocks.<\/p>\n
The JSX index dropped 6.07 points yesterday to close at
\n678.91, down from 684.98 the previous day.<\/p>\n
Yesterday's turnover was worth Rp 632.9 billion (US$268,2
\nmillion) with 301.04 million shares changing hands.<\/p>\n
Most analysts contacted by The Jakarta Post said the market
\nwas slowing down after strong gains early this week.<\/p>\n
Jasmine Tedja of HSBC Securities said the price drop was
\npartly caused by the 94.28-point fall in the Dow Jones index.<\/p>\n
She said the falling Dow Jones index stimulated selling on the
\nlocal market, pushing down most share prices.<\/p>\n
HM Sampoerna fell Rp 150 to close at Rp 14,250, cigarette
\nmaker Gudang Garam dropped Rp 350 to close at Rp 11,400, Kalbe
\nFarma dropped Rp 200, Modern Photo dropped Rp 350, BNI dropped Rp
\n75 to close at Rp 1,625 and BII dropped Rp 50 to close at Rp
\n1,750.<\/p>\n
PT Telkom shares closed unchanged at Rp 4,100 with 2.9 million
\nshares changing hands. Indosat fell Rp 100 to close at Rp 7,000
\nand Astra shares fell one point locally to close at Rp 6,300
\nwhile rising Rp 100 on the foreign board to close at Rp 7,850.<\/p>\n
Several second-line shares gained ground despite the drop in
\nmost share prices. Zebra Nusantara gained Rp 775 to close at Rp
\n6,900, Bank BDNI rose Rp 200 to close at Rp 2,850.<\/p>\n
One analyst said shares of Bank BDNI, primarily owned by
\nGajah Tunggal group, had risen because of a recently announced
\nrights issue and its better than expected financial results.<\/p>\n
An analyst from HSBC Jasmine Tedja was surprised by the rise
\nof Zebra Nusantara shares despite an absence of market rumors on
\nthe stock.<\/p>\n
Telaga Mas shares gained Rp 325 to close at Rp 5,700, Prasidha
\nAneka Niaga gained Rp 200 to close at RP 3,300, Vander Horst
\ngained Rp 125 to close at Rp 1,620, Lippo Karawaci gained Rp 175
\nto close at Rp 2,775, Bumi Modern Hyatt rose Rp 150 to Rp 1,700,
\nBank Danamon gained Rp 100 to close at Rp 2,550 and Sona Topas
\ngained Rp 75 to close at Rp 1,125.<\/p>\n
An analyst with a securities firm said foreign and local
\ninvestors favored Bank Danamon stock because others were
\noverpriced.<\/p>\n
The analyst said the price of Lippo Karawaci shares rose
\nbecause investors expected that the planned initial public
\noffering for Gleneagle hospital in the next few months would
\nfurther strenthen its financial performance.<\/p>\n
Gleneagle, Lippo's joint venture with a Singapore firm,
\noperates a new hospital in Karawaci, West Java. (09)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/jsx-prices-lose-ground-on-profit-taking-1447893297",
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