Small-capped shares under spotlight on JSX<\/p>\n
JAKARTA (JP): Small issues were under the spotlight on the
\nJakarta Stock Exchange (JSX) last week, with local players
\nspeculating on small-capped counters, most of which were trading
\nunder par.<\/p>\n
Trading on the market was moderate with the JSX Composite
\nIndex closing the week with little movement, up by 493.24 points
\nfrom the week's opening of 492.81.<\/p>\n
There was a particularly strong sentiment on textile stocks,
\nwhich seemed to have been sparked by rumors of an acquisition
\nconcerning Pan Brothers Tex. Sentiment on timber stocks also
\nweakened further, following the comment of Apkindo, the
\nIndonesian plywood producer association, that it cannot guarantee
\nthat its export target is achievable. Heavy equipment company,
\nIntraco Penta, was the week's star performer, rocketing to a high
\nRp 2,150 last week, from the previous week's price of Rp 1,000.
\nThe reason behind the speculation was unclear, for a counter
\nwhich had been illiquid for sometime. The U.S. Federal Reserve's
\ndecision not to raise interest rates was also widely expected,
\nand did not have a significant impact of the market.<\/p>\n
Over the short term the market is likely to trade through its
\nnarrow trading path, as investors anticipates the initial public
\noffering (IPO) of the state-owned domestic telecommunications
\ncompany PT Telkom and the state-owned tin mining firm PT Tambang
\nTimah.<\/p>\n
Speculative issues<\/p>\n
Local players were seen active on speculative issues. The
\ncounters which sow active domestic trading included Pan Brothers,
\nIntraco Penta, Smart Corp., Bimantara, Mayatexdian, Ganda Wangsa,
\nPSP, Concord Benefit Enterprise, Astra International, Dharmala
\nIntiland, Evershine Textile and Rig Tenders.<\/p>\n
Foreign investors were largely cautious, with upcoming IPOs
\nover the last quarter of the year. Counters which saw active
\nforeign trading included SMART Corp., Gadjah Tunggal, Bimantara,
\nBarito, BDNI, Semen Gresik, Inti Indorayon and Bank Internasional
\nIndonesia.<\/p>\n
Average daily turnover on the regular board increased to 35.8
\nmillion shares worth Rp 67.6 billion (US$29.7 million) from 18.3
\nmillion shares worth Rp 51.7 billion in the previous week. Last
\nweek's total turnover increased to 246.7 million shares valued at
\nRp 590.4 billion (US$259.5 million) from 144.2 million shares
\nvalued at Rp 488.2 billion in the previous week.<\/p>\n
Some of the best performers last week were Hotel Prapatan (up
\nRp 1,175), Bank Bali (up Rp 625), Sari Husada (up Rp 600), Modern
\nPhoto (up Rp 500) and Dharmala Agrifood (up Rp 475). The biggest
\nlosers were Ugahari (down Rp 600), Bank Internasional Indonesia
\n(down Rp 450), Bakrie Sumatra P (down Rp 425), Tempo Scan (down
\nRp 375) and Lippo Life (down Rp 350). Gainers outnumbered losers
\n50 to 80, while 40 counters remained unchanged.<\/p>\n
-- Sigma Batara<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/small-capped-shares-under-spotlight-on-jsx-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }