Weak dollar pulls stock prices down<\/p>\n
JAKARTA (JP): Share prices fell on the Jakarta Stock Exchange
\n(JSX) last week as investors remained concerned over the weak
\nU.S. dollar.<\/p>\n
The index dipped to a mid-week low of 425.22 from the week's
\nopening of 432.73, before rebounding slightly on Thursday.<\/p>\n
However buying forces failed to support the market as the
\nindex was dragged down by the weak sentiment in regional bourses.<\/p>\n
The JSX Composite Index closed last week at 426.67, down 6.06
\npoints (1.40 percent) from the week's opening.<\/p>\n
There were also fears that the strong yen will result in
\nhigher inflation in the region, which relies heavily on imports
\nfrom Japan. Meanwhile, better-than-expected economic data
\nrecently released in the United States added to the market's
\nuncertainty, due to speculation on the possibility of another
\ninterest rate hike by the Federal Reserve.<\/p>\n
Trading during the week was moderate, with investors picking
\nup selected counters which had been heavily sold earlier. Over
\nthe short term, it appears that the market will continue to
\nfluctuate within a narrow trading range.<\/p>\n
Domestic players' activities continued to be concentrated on
\nsecond liner stocks. Counters actively traded included BDNI,
\nBarito Pacific, Lippoland, Duta Anggada, Pakuwon Jati, JIHD, PSP,
\nMulialand and Dharmala Intiland.<\/p>\n
Foreign players were buying up blue chip stocks at the end of
\nthe week. Counters which saw active trading by foreigners
\nincluded HM Sampoerna, Indosat, Indofood, BDNI, Lippo Bank, BII,
\nSMART, Gadjah Tunggal, PSP, Duta Anggada and Tjiwi Kimia.<\/p>\n
Average daily turnover on the regular board decreased to 11.43
\nmillion shares, worth Rp 36.71 billion (US$16.58 million), from
\n13.54 million shares, worth Rp 38.36 billion, in the previous
\nweek.<\/p>\n
Last week's total turnover also decreased to 99.04 million
\nshares, valued at Rp 324.77 billion, from 106.97 million shares,
\nvalued at Rp 474.43 billion, in the previous week.<\/p>\n
Some of last week's best performers were Indorama (up Rp 850),
\nSteady Safe (up Rp 800), HM Sampoerna (up Rp 400), Ciputra
\nDevelopment (up Rp 300) and Texmaco Jaya (up Rp 200). The biggest
\nlosers were P&G Ind. (down Rp 3,500), Bank Bali (down Rp 950),
\nUnilever (down Rp 750), Gudang Garam and Tigaraksa (each down Rp
\n700). Losers outnumbered gainers by 71 to 29, while 78 remained
\nunchanged.<\/p>\n
-- Sigma Batara<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/weak-dollar-pulls-stock-prices-down-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }