{
    "success": true,
    "data": {
        "id": 1495057,
        "msgid": "markets-unimpressed-by-budget-draft-1447893297",
        "date": "2004-08-18 00:00:00",
        "title": "Markets unimpressed by budget draft",
        "author": null,
        "source": "DOW JONES",
        "tags": null,
        "topic": null,
        "summary": "Markets unimpressed by budget draft The 2005 state budget draft unveiled by President Megawati Soekarnoputri failed to lift sentiment in the stock market, which remains anxious about soaring oil prices. Dealers said that many investors considered the budget overly optimistic. The Jakarta Stock Exchange composite index ended down 3.970 points, or 0.5 percent, at 751.950 on Monday. Decliners led gainers 66 to 29, with 82 stocks unchanged. Volume was 357 million shares valued at Rp 317 billion.",
        "content": "<p>Markets unimpressed by budget draft<\/p>\n<p>The 2005 state budget draft unveiled by President Megawati<br>\nSoekarnoputri failed to lift sentiment in the stock market, which<br>\nremains anxious about soaring oil prices.<\/p>\n<p>Dealers said that many investors considered the budget overly<br>\noptimistic.<\/p>\n<p>The Jakarta Stock Exchange composite index ended down 3.970<br>\npoints, or 0.5 percent, at 751.950 on Monday. Decliners led<br>\ngainers 66 to 29, with 82 stocks unchanged. Volume was 357<br>\nmillion shares valued at Rp 317 billion.<\/p>\n<p>\"We had many negative factors,\" said a trader with Kuo Capital<br>\nSecurities as quoted by Dow Jones.<\/p>\n<p>The negative factors include rising political uncertainty<br>\nahead of the September 20 presidential election, soaring oil<br>\nprices which have depressed stock markets around the world and<br>\nthe possibility of Bank Indonesia raising its benchmark interest<br>\nrate amid stronger inflationary pressure and to help defend the<br>\nrupiah.<\/p>\n<p>Dealers said that investors would continue to sell bank shares<br>\non worries that a higher interest rate would lower their<br>\nearnings.<\/p>\n<p>Bank Danamon fell by Rp 75, or 2 percent, to Rp 3,450 and Bank<br>\nCentral Asia (BCA) was down Rp 25, or 1.4 percent, to Rp 1,800.<\/p>\n<p>Dealers said they expected the market on Wednesday to trade<br>\nlower on further selling in select blue chips. The Indonesian<br>\nmarkets were closed on Tuesday for Independence Day celebrations.<\/p>\n<p>Meanwhile, the rupiah closed lower for the second straight<br>\nsession as local companies purchased dollars to meet their month-<br>\nend obligations.<\/p>\n<p>The dollar ended at Rp 9,280, weaker than its close of Rp<br>\n9,265 on Friday.<\/p>\n<p>Dealers also attributed the rupiah's fall to the dollar's rise<br>\nagainst its major rivals and surging oil prices.<\/p>\n<p>Higher oil prices will likely boost dollar demand from state<br>\noil and gas company PT Pertamina, one of the main dollar buyers<br>\nin the local foreign exchange market, dealers said. Pertamina<br>\nneeds dollars to pay for its oil imports.<\/p>\n<p>\"The underlying sentiment for the rupiah will remain bearish<br>\nahead of the presidential runoff in September,\" said a trader at<br>\na foreign bank.<\/p>\n<p>Dealers expect the dollar to trade between 9,250 and 9,325<br>\nWednesday. -- JP<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/markets-unimpressed-by-budget-draft-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}