Share prices mixed on Jakarta market
Share prices mixed on Jakarta market
JAKARTA (JP): Share prices on the Jakarta Stock Exchange (JSX) closed mixed on moderate trading last week.
The Fed's decision of not raising interest rates gave some indication that the U.S. domestic interest rates have stabilized. This prompted some foreign investors to enter the JSX with selective buying on heavyweight stocks.
The JSX Composite Index closed last week up by 6.51 points (1.5 percent) to 428.64 from the week's opening of 422.13.
Last week's trading was shorter than usual with the last session ending on Thursday. The market was closed on Friday due to the closing of the central bank's books for its 1994-1995 fiscal year.
This week, the market is likely to take its tune from Wall Street and the regional bourses.
Meanwhile, last week's rate cut by Germany's Bundesbank will give some short-term support to the dollar and increase the likelihood of a Japanese interest rate cut.
This dollar-supporting event should give some incentive for investors to enter the market.
The activities of domestic players were moderate and still concentrated mainly on second liner stocks. Counters which were actively traded by domestic players included BDNI, Barito Pacific, CMNP, Lippo Land, Duta Anggada, Pakuwon Jati, PSP and Dharmala Intiland.
Foreign players were buying up blue chip stocks in the middle of the week. Counters which saw active trading by foreigners included Astra Int'l, HM Sampoerna, Argha Karya, Indosat, Indofood, Indocement, Barito, BDNI, Lippo Bank, BII, Lippo Land, Gadjah Tunggal, PSP, Duta Anggada and Jababeka.
Sona Topas' 1-for-1 stock split was listed last week. The trading of the split shares with the new nominal price of Rp 500 (22.5 U.S. cents) started on March 27.
Average daily turnover on the regular board increased to 13.91 million shares worth Rp 42.46 billion (US$19.13 million) last week from 10.19 million shares worth Rp 30.56 billion in the previous week.
Last week's total turnover increased to 112.12 million shares valued at Rp 393.07 billion from 89.24 million shares valued at Rp 313.32 billion in the previous week.
Some of last week's best performers were Voksel Electric (up Rp 1,200), Hexindo Adiperkasa (up Rp 800), Bakrie & Brothers (up Rp 775), HM Sampoerna (up Rp 750) and Bank Surya (up Rp 500). The biggest losers were Lippo Securities (down Rp 850), Jembo Cable (down Rp 800), Gudang Garam (down Rp 750), Panca Wiratama (down Rp 700) and Bank Niaga (down Rp 500).
Gainers outnumbered losers by 74 to 42, while 28 remained unchanged.
-- Sigma Batara