Shares weakened last week<\/p>\n
JAKARTA (JP): The market weakened slightly last week as most
\ninvestors avoided the secondary market and focused on the Telkom
\nIPO that started last Friday.<\/p>\n
The index dropped gradually from Monday to Friday by 5.97
\npoints (down 1.19 percent) from 500.44 to 494.47.<\/p>\n
Tambang Timah still dominated transaction activity last week
\nas local investors were seen cutting losses which increased
\nselling pressure.<\/p>\n
It reached a low of Rp 2,400 on Wednesday before rebounding to
\nclose the week at Rp 2,550. Japfa and Anwar Sierad were active,
\nbeing bought mostly by local investors, who thought the shares
\nhad been oversold.<\/p>\n
Astra International and Gadjah Tunggal continued to be active
\nalthough their prices received some selling pressure from profit
\ntaking action.<\/p>\n
Lippo Land received attention as the government announced a
\nnew regulation allowing new factories to be built in Java only in
\nindustrial estates.<\/p>\n
The market will most likely remain weak until the listing of
\nTelkom, although some selective buying may be seen at some
\ncounters that report good nine months result.<\/p>\n
Local players were bargain hunting in selective stocks. They
\nwere active in Timah, Anwar Sierad, Japfa, Astra International,
\nSMART, and Dharmala Sakti Sejahtera.<\/p>\n
Foreign investors were mostly on the selling side. They were
\nactive in BDNI, Semen Gresik, Darya Varia, Kalbe Farma, HM
\nSampoerna, and Gudang Garam.<\/p>\n
Average daily turnover on the regular board decreased to 20.6
\nmillion shares worth Rp 58.4 billion (US$25.6 million) compared
\nto 34.3 million shares worth Rp 97.8 billion (US$42.9 million) in
\nthe previous week.<\/p>\n
Total turnover for the week also decreased to 169.4 million
\nshares valued at Rp 575.0 billion (US$251.8 million) from 269.7
\nmillion shares valued at Rp 816.1 billion (US$357.6 million) in
\nthe previous week.<\/p>\n
Some of the best performers last week were Modernland (up
\nRp 700), Mulia Industrindo (up Rp 475), Kedaung Indah (up Rp
\n400), Bank Bira (up Rp 325), and Ciputra Dev. (up Rp 275).<\/p>\n
The biggest losers were HM Sampoerna (down Rp 1,400), Unilever
\n(down Rp 1,000), Kalbe Farma (down Rp 775), Tempo Scan (down
\nRp 375), and Tjiwi Kimia (down Rp 350). Gainers outnumbered
\nlosers by 53 to 63, while 43 counters remained unchanged.<\/p>\n
-- Sigma Batara<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/shares-weakened-last-week-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }