ID :
35346
Sat, 12/13/2008 - 07:15
Auther :
Shortlink :
https://www.oananews.org//node/35346
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BEI COMPOSITE INDEX DOWN 4.08 PCT ON FRIDAY
Jakarta, Dec 12 (ANTARA) - The current global crisis on Friday again affected share trading in the Indonesian Stock Exchange (BEI) with its composite index closing 4.08 percent or 53.726 points lower at 1,262.968.
The LQ45 index also dropped 5.27 percent or 13,858 to 249.105.
"Worries over the US crisis following the rejection of the auto industry bailout package by the US Senate on Thursday affected the share market," research analyst Krisna Dwi Setiawan of PT Valbury Asia Securities said to ANTARA.
This was the condition that had also made Asian stock exchanges to drop sharply such as the Hang Seng in Hong Kong that was down 5.48 percent to 14,758.38 and Straits Times in Singapore which dropped 3.00 percent to 1,740.34.
Krisna said another factor that helped cause the Jakarta composite index to decline was the postponement of the Bakrie Brothers' shareholders' meeting that had made the implementation of the purchase plan for state-owned company shares in Bumi Resources by Northstar uncertain.
This made the BUMI shares continuously under selling pressure to drop its price by Rp100 to Rp900 and lead other shares to also pressure the index.
Krisna also mentioned the enactment of the new law on mineral resources and mining that bans exports of raw materials as another negative sentiment affecting share market in the Jakarta Stock Exchange.
"Mining companies are forced to build a processing plant again that will increase cost," he said.
The negative sentiment has made losing shares in the exchange dominate trading reaching 107 stocks compared to gaining stocks that were recorded at only 22 while 42 other stocks were stagnant and 280 others not actively traded.
Besides BUMI shares that led the downturn other top shares that pressured index were Astra International which was down by Rp900 to Rp9,750, Telkom down Rp150 to Rp6,450, Bukit Asam Coal Mining down Rp700 to Rp6,800, United Tractor down Rp450 to Rp4,400, Bank BRI slashed Rp375 to Rp3,700 and Perusahaan Gas Negara dropping Rp200 to Rp2,000.
Friday's trading was quite busy with transactions reaching 54,309 involving 2.048 billion shares worth Rp1.420 trillion.
The LQ45 index also dropped 5.27 percent or 13,858 to 249.105.
"Worries over the US crisis following the rejection of the auto industry bailout package by the US Senate on Thursday affected the share market," research analyst Krisna Dwi Setiawan of PT Valbury Asia Securities said to ANTARA.
This was the condition that had also made Asian stock exchanges to drop sharply such as the Hang Seng in Hong Kong that was down 5.48 percent to 14,758.38 and Straits Times in Singapore which dropped 3.00 percent to 1,740.34.
Krisna said another factor that helped cause the Jakarta composite index to decline was the postponement of the Bakrie Brothers' shareholders' meeting that had made the implementation of the purchase plan for state-owned company shares in Bumi Resources by Northstar uncertain.
This made the BUMI shares continuously under selling pressure to drop its price by Rp100 to Rp900 and lead other shares to also pressure the index.
Krisna also mentioned the enactment of the new law on mineral resources and mining that bans exports of raw materials as another negative sentiment affecting share market in the Jakarta Stock Exchange.
"Mining companies are forced to build a processing plant again that will increase cost," he said.
The negative sentiment has made losing shares in the exchange dominate trading reaching 107 stocks compared to gaining stocks that were recorded at only 22 while 42 other stocks were stagnant and 280 others not actively traded.
Besides BUMI shares that led the downturn other top shares that pressured index were Astra International which was down by Rp900 to Rp9,750, Telkom down Rp150 to Rp6,450, Bukit Asam Coal Mining down Rp700 to Rp6,800, United Tractor down Rp450 to Rp4,400, Bank BRI slashed Rp375 to Rp3,700 and Perusahaan Gas Negara dropping Rp200 to Rp2,000.
Friday's trading was quite busy with transactions reaching 54,309 involving 2.048 billion shares worth Rp1.420 trillion.
