Share prices on JSX gain ground<\/p>\n
JAKARTA (JP): Share prices on the Jakarta Stock Exchange (JSX)
\ngained ground yesterday as the campaign for the May 29 election
\ngot off to a smooth start.<\/p>\n
Dealers said trade went ahead as normal with many shares
\nactively traded.<\/p>\n
\"There is no problem so far with the election campaign. There
\nhave been no incidents which is good for stock trading,\" one
\nforeign analyst said.<\/p>\n
Dealers said most investors concentrated on undervalued
\nmedium-sized companies and Dharmala Group's consumer finance arm,
\nPutra Surya Multidana, which debuted on the Jakarta and Surabaya
\nexchanges yesterday.<\/p>\n
Multidana's closed at Rp 2,600 -- a 20 percent premium to its
\nissue price as 118 million shares changed hands.<\/p>\n
The JSX composite index rose 4.05 points to 656.53 on turnover
\nof 386.6 million worth US$314 million (Rp 766.1 billion).<\/p>\n
Cigarette maker Sampoerna rose Rp 100 to Rp 9,800 while rival
\nGudang Garam dipped Rp 100 to Rp 10,600. Telkom was down Rp 50 at
\nRp 3,550 rupiah while Indosat gained Rp 50 to Rp 6,725.<\/p>\n
Bank Negara Indonesia was unchanged at Rp 1,350, Bank
\nInternational Indonesia was steady at Rp 1,750 while Bank Danamon
\nadded Rp 50 to 2,400.<\/p>\n
Second line stocks were also stronger as Elang Realty rose Rp
\n250 to Rp 1,725 on speculation it would issue more shares to
\nraise money to buy Bakrie property projects.<\/p>\n
The election campaign's smooth start also set a positive tone
\nfor foreign currency markets.<\/p>\n
Money dealers said the rupiah staged a strong comeback
\nyesterday after losing ground against the U.S. dollar last week
\non fears of possible campaign violence.<\/p>\n
Spot rupiah prices recovered gradually to 2,426.5\/27.0 after
\nopening at 2,435.5\/36.5.<\/p>\n
The campaign just began \"so we don't know what will happen in
\ncoming days and it will only last until May 23, one week before
\nthe elections,\" one trader said.<\/p>\n
Another analyst said market sentiment would depend on what
\nhappened on the streets during the campaign.<\/p>\n
\"If the campaign activities run smoothly like on Sunday, the
\nmarket should move up again,\" he said. (09)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/share-prices-on-jsx-gain-ground-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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