Share prices discounted despite hike in interest rate<\/p>\n
JAKARTA (JP): Share prices advanced further as investors
\ncontinued their buying orders on most boards despite the increase
\nin the U.S. interest rate.<\/p>\n
The increase in the U.S. dollar interest rate came as no
\nsurprise as the market maintained its comeback course, closing
\nthe week at 492.21, up 17.31 points from the previous week.<\/p>\n
Many analysts believe that the market had fully discounted the
\ninterest hike well in advance, and that investors were taking
\npositions in expectation of better interim results to be further
\nreleased before the end of the month.<\/p>\n
Interim results released the previous week include those of
\nkey stocks such as Kalbe Farma, BII, Bank Danamon, Lippo Bank,
\nInti Indorayon, Semen Cibinong, Gadjah Tunggal, and Sumalindo.<\/p>\n
Average daily turnover on the regular board increased to
\n18.63 million shares worth Rp 67.57 billion (US$31.11 million)
\ncompared to 12.86 million shares worth Rp 49.40 billion ($22.75
\nmillion) the previous week. Total turnover for the week decreased
\nto 115.83 million shares valued at Rp 490.92 billion ($226.02
\nmillion) from 118.03 million shares valued at Rp 561.91 billion
\n($258.82 million) the previous week.<\/p>\n
Foreign investors locked in funds mostly in the banking and
\nconsumer counters. They were seen focusing on BII, Panin Bank and
\nBDNI, Matahari, Enseval, Gudang Garam, HM Sampoerna, Hero, Mayora
\nand Dankos. Meanwhile, strong buying on BII bought-out the
\nremaining foreign portion of the shares. There were also strong
\nbuying orders on Barito Pacific Timber despite the still
\ndeclining plywood prices and lingering contention between
\nIndonesian plywood exporters and foreign importers. Other
\ncounters which enjoyed foreign buying include SMART, Modern Bank,
\nPSP and Mulialand.<\/p>\n
Participating in the action, local investors focused their
\nbuying on mostly speculative counters such as Inco, Indah-Kiat,
\nTjiwi Kimia, Japfa and SMART.<\/p>\n
They were also seen trading Bank Danamon, due to better than
\nexpected first half results. Meanwhile, counters which suffered
\nlarge selling orders included Mayatexdian, KK Glue, Kalbe Farma
\nand Lippo Bank.<\/p>\n
There were 2 bonus issues listed last week, Indah Kiat
\n(40-for-100), and Indocement (1-for-1).<\/p>\n
Some of the best performers last week were Kalbe Farma (+Rp
\n1,350), Panin Life (+Rp 1,300), Ciputra Development (+Rp 825),
\nBAT (+Rp 800), and Bank Niaga (+Rp 700). The biggest losers were
\nFast Food Indonesian (-Rp 3,050), Hotel Prapatan (-Rp 2,450),
\nSuba Indah and Intraco Penta (both -Rp 600), and Sekar Bumi (-Rp
\n475). Gainers outnumbered losers by 83 to 36, while 23 remained
\nunchanged.<\/p>\n
-- Sigma Batara<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/share-prices-discounted-despite-hike-in-interest-rate-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }