Share prices rise a tad in JSX moderate trading

JAKARTA (JP): Share prices on the Jakarta Stock Exchange (JSX) rose slightly yesterday in moderate trading, with most bluechip stocks dominating the transactions.

"There is nothing special in the market except that local investors continue to buy stocks which have relations with high- profile business groups," a dealer with a joint venture securities said referring to Citra Marga Nusaphala Persada (CMNP), Astra International, Bimantara Citra and Bhakti Investama shares.

CMNP's share price rose Rp 25 to Rp 600 (7 U.S. cents) on a volume of 18.17 million shares changing hands, Astra International was up Rp 75 to Rp 1,900 on 23.58 million shares traded, Bhakti Investama rose Rp 200 to Rp 1,500 on a total volume of 14.62 million shares changing hands while conglomerate Bimantara Citra remained unchanged at Rp 1,025 after 8.75 million shares exchanging hands yesterday.

Brokers said that local securities houses like Danareksa Sekuritas, Lippo Securities and Bhakti Investama were making large buying orders.

The JSX composite index rose 0.2 percent to 512.14 points from 510.78 the previous day.

Around 682.39 million shares worth Rp 524.36 billion changed hands on the regular market.

Brokers said foreign investors were still waiting for the government's announcement on the result of its talks with the International Monetary Fund.

Most regional markets looked to the domestic front for their leads, with a big profit-drop announced by mining giant BHP driving down Sydney and follow-up selling hitting Hong Kong, AFP reported.

In Tokyo, Japan's Nikkei Stock Average of 225 leading issues lost 241.36 points to close at 16,739.26, reversing a 322.28- point gain in the previous session.

In Hong Kong, the key Hang Seng index lost 22.38 points to close at 11,735.50, after losing 0.4 percent the previous day to end a five-day winning run.

In Sydney, the Australian Stock Exchange's key All Ordinaries index fell 18.4 points to 2,762.7.

In Singapore, the benchmark Straits Times Industrials index rose 2.29 points to end the week at 1,653.93 while the broader All-Singapore index was up 1.89 points to 431.19.

In Kuala Lumpur, the 100-share weighted composite index fell 5. 69 points to end at 727.62.

In Manila, the Philippine Stock Exchange composite index shed 8.71 points to close at 2,301.66 points.

In Seoul, the composite index closed up 1.95 points, or 0.4 percent, at 503.08 from a low of 493.95 touched by mid-morning.

In Taipei, the Taiwan Stock Exchange weighted price index rose 81.66 points to 9,095. 83, following Thursday's 0.3 percent drop.

In Shanghai, the B share index lost 0.37 points to close at 54.01 points while the A share index of locally-traded stocks ended up 37.47 points, or 3.0 percent, at 1,291.11 points.

In New Zealand, the NZSE-40 was down 8.41 points to 2,340.91 on heavy turnover of NZ$294.6 million (US$165.6 million) with Telecom Corp down 10 cents. (aly)