Worsening sentiment sends share prices lower on JSX<\/p>\n
JAKARTA (JP): Stock prices on the Jakarta Stock Exchange (JSX)
\nclosed lower across the board last week, after three days of
\nstraight falls and deteriorating sentiment.<\/p>\n
The JSX Composite Index ended the week at 492.81, down 2.51
\npoints, or 0.5 percent, from the week's opening of 495.32.<\/p>\n
The market moved through narrow trading range last week, with
\nforeign investors the net sellers.<\/p>\n
Lack of fresh incentives from foreign investors were due to
\ntwo issues: the selling of portions to raise funds for upcoming
\ninitial public offerings and more emphasis on other regional
\nmarkets.<\/p>\n
The players seen sidelined ahead of several big and small
\nlistings included BDNI Reksadana, Suryamas Dutamakmur, Asahimas,
\nMiwon, Timah, Komatsu and the hottest issue-to-be, Telkom.<\/p>\n
Barito Pacific published poor first-semester results, which
\nplaced the counter under heavy selling pressure over the week.
\nThe company's first-half earnings fell by 62.5 percent to Rp 38.7
\nbillion from the same period of last year.<\/p>\n
Supreme Cable Company (Sucaco) announced its 1-for-2 rights
\nissue at a price of Rp 3,000 per share.<\/p>\n
The property company Suryamas Dutamakmur has confirmed its IPO
\nprice at Rp 850 per share and is offering 80 million shares to
\npublic.<\/p>\n
Meanwhile, Asahimas, Komatsu and Elang Realty conducted due
\ndiligence meetings or public exposes during the week .<\/p>\n
Foreign investors were generally inactive. They dominated the
\nselling orders on big liquid issues. Counters which saw active
\ntrading included BDNI, Astra International, Ganda Wangsa Utama,
\nBimantara Citra, CMNP, Gadjah Tunggal, Indah Kiat, SMART and
\nBarito Pacific.<\/p>\n
Local players were seen active on speculative issues. The
\ncounters which were actively traded by local players included
\nGanda Wangsa Utama, Rig Tenders, Berlian Laju Tanker, Semen
\nGresik, CMNP, Astra International, SMART and Bakrie & Brothers.<\/p>\n
Average daily turnover on the regular board decreased to 18.3
\nmillion shares worth Rp 51.7 billion (US$22.7 million) last week
\nfrom 24.6 million shares worth Rp 65.9 billion in the previous
\nweek. Last week's total turnover decreased to 144.2 million
\nshares valued at Rp 488.2 billion from 273.1 million shares
\nvalued at Rp 1.23 trillion in the previous week.<\/p>\n
Some of last week's best performers were Mayora Indah (up
\nRp 325), Branta Mulia, Lion Metal, Modern Photo (each up Rp 300)
\nand Budi Acid Jaya (up Rp 200).<\/p>\n
The biggest losers were Itamaraya (down Rp 700), Tira
\nAustenite (down Rp 600), Inti Indorayon (down Rp 500), Gudang
\nGaram (down Rp 450) and Jaya Real Property (down Rp 400).<\/p>\n
Gainers outnumbered losers by 45 to 89, while 68 counters
\nremained unchanged.<\/p>\n
-- Sigma Batara<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/worsening-sentiment-sends-share-prices-lower-on-jsx-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }