Stock Exchange

JAKARTA (JP): Trading on the Jakarta Stock Exchange (JSX) remained featureless yesterday, with most shares losing ground in active trading.

The JSX Composite Index suffered another fall, losing 1.2 points to close at 513.91 yesterday, as compared to 515.12 on the previous day.

The GTDBS-50 Index also continued declining to close at 122.80 against Wednesday's close of 123.16.

Securities brokers said that local investors mostly lost direction on the absence of foreign investors and dumped their shares in cut-loss trading.

Foreign investors, the dominant factor in the trading activities, mostly sidelined the market on fears of a further increase in interest rates in the United States.

"Foreign fund managers are mostly in a wait-and-see position," a securities dealer said.

Yesterday's top losers were Sekar Laut (-Rp 600), Suba Indah (-Rp 500), Bakrie and Brothers (-Rp 350), Andayani Megah (-Rp 225), Charoen Pokhand (-Rp 300) and Lippo Securities (-Rp 200).

Top gainers were Bank Tiara (+Rp 350), Bunas Finance (+Rp 200), Medco Energi (+Rp 150) and Trias Sentosa (+Rp 100).

Trading volume more than doubled to 24.66 million shares worth Rp 93.43 billion (US$44.5 million) yesterday from 12 million shares worth Rp 59.45 billion. (hen)