Share prices continue falling on Jakarta Stock Exchange

JAKARTA (JP): The Jakarta Stock Exchange (JSX) yesterday extended its three day losing streak with the broad-based Composite Index closing at 494.36, as compared to 501.79 on Tuesday.

"The drop in the key index, breaking the psychological barrier of 500, will not make investors worried. It is a normal fluctuation," an official of the monetary authority told The Jakarta Post yesterday.

He was optimistic that the index will grow stronger along with the government's policy to give more attention to improving market's infrastructures and legal instruments.

The narrower GTDBS-50 Index also declined to close at 118.10 from 119.95.

Trading volume sank to 15.96 million shares worth Rp 67.17 billion yesterday from 20.69 million shares valued at Rp 87.29 billion on Tuesday.

Top gainers were Bakrie & Brothers (+Rp 200), Charoen Pokphand Indonesia (+Rp 125), Sepatu Bata (+Rp 150) and Ultra Jaya Milk (+Rp 250).

Yesterday's top losers included Bank International Indonesia (-Rp 400), Delta Djakarta (-Rp 1,000), Gadjah Tunggal (-Rp 250), Gudang Garam (-Rp 375), Mayora (-Rp 400), Ometraco (-Rp 250), Unggul Indah Corp. (-Rp 250) and Unilever Indonesia (-Rp 500).

Yesterday's trading, which was marked by declines in the prices of most of the share issues, posted transactions of 6.96 million shares worth Rp 30.85 billion on the regular board, 8.33 million shares valued at Rp 33.77 billion on the crossing board, 659,500 shares with a total value of Rp 2.53 billion on the foreign board and 853 shares worth Rp 16.12 million on the odd lot board.

The block sale and cash trading boards recorded no transactions yesterday. (fhp)