Stock exchange index gains 20 points in a week<\/p>\n
JAKARTA (JP): The Jakarta Stock Exchange was seen trading in a
\nnarrow range of between 491 and 493 in the early part of last
\nweek, but rebounded significantly after the holiday closing on
\nWednesday to the 504 level on Thursday.<\/p>\n
The JSX Composite Index closed the week at 512.79, up by 20.46
\npoints (4.2%) from the last week's opening of 492.33.<\/p>\n
The new capital market law on lending and borrowing
\nsecurities, to be implemented next month, coupled with other new
\ncapital market regulations, gave confidence to investors trading
\nthrough the JSX. The law is anticipated to enhance liquidity of
\nthe bourse.<\/p>\n
The trimming of the discount rate by 25 basis points by the
\nU.S. Federal Reserve boosted the overall market sentiment at the
\nend of last week.<\/p>\n
Two telecommunications companies, Telkom and Indosat, which
\nare listed on the NYSE, saw substantial increases in their share
\nprices, although there were no significant changes in the
\nfundamentals of the companies. Telkom's price rose by 7.5 percent
\nto Friday's close of Rp 2,875, after touching the highest level
\nat Rp 2,950. Indosat rose by 9.6 percent to Rp 8,575 during the
\nweek. Overall, the market remained active on the last day of
\ntrading before the Christmas holiday, partly as a result of a
\nyear-end window dressing effort to boost prices.<\/p>\n
Trading activities this week are expected to be moderate with
\nonly three days of trading, as the JSX will be closed for
\nChristmas and on Friday. The market is anticipated to continue to
\nfluctuate within a narrow trading range of between 505 and 510.<\/p>\n
Foreign-triggered buying remained mostly in heavily
\ncapitalized and liquid stocks. Counters which saw active trading
\ninclude Telkom, Indosat, HM Sampoerna, Gudang Garam, Indah Kiat,
\nSemen Gresik, Matahari, Darya Varia, Mayora, BDNI, BII, Lippo
\nBank, Gadjah Tunggal, Indocement and Smart.<\/p>\n
Local players' activities continued to be concentrated on big-
\ncapitalized and speculative stocks. Counters which were actively
\ntraded included Telkom, Indosat, Indah Kiat, Barito Pacific,
\nCMNP, Lippo Bank, Dharmala Intiland, Bimantara Citra, Duta
\nAnggada, Smart, PSP, Perdana Bangun Pusaka and Rig Tenders.<\/p>\n
Average daily turnover on the regular board increased to 26.2
\nmillion shares worth Rp 77.2 billion (US$33.5 million) from 27.7
\nmillion shares worth Rp 70.4 billion in the previous week. Last
\nweek's total turnover also increased to 254.1 million shares
\nvalued at Rp 692.6 billion from 236.6 million shares worth Rp
\n646.4 billion in the previous week.<\/p>\n
Some of the best performers last week were HM Sampoerna (up
\nRp 1,600), Gudang Garam (up Rp 1,300), Indofood SM (up Rp 1,250),
\nBII (up Rp 800) and Indosat (up Rp 750). The biggest losers were
\nUnilever (down Rp 775), Tembaga Mulia (down Rp 500), Mulia
\nIndustrindo (down Rp 400), Lionmesh and Sekar Bumi (each down Rp
\n300). Losers outnumbered gainers by 64 to 63, while 34 counters
\nremained unchanged.<\/p>\n
-- Sigma Batara<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/stock-exchange-index-gains-20-points-in-a-week-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }