ID :
48127
Fri, 02/27/2009 - 23:03
Auther :
Shortlink :
https://www.oananews.org//node/48127
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BEI INDEX DROPS 2.75 POINTS EARLY FRIDAY
Jakarta, Feb. 27 (ANTARA) - The Composite Stock Price Index (IHSG) at the Indonesian Stock Exchange (BEI) slided 2.075 points or 0.21 percent to 1,287.647 here on Friday, on losses of blue-chip shares.
The stock market consolidated after it had sharply tumbled over the past few days, Edwin Sinaga, a capital market observer, said here on Friday.
The BEI in fact opened higher, but after 10 minutes of trading activities, the stocks plunged again, he said.
Bank Danamon shares went down to Rp2,550 from Rp2,575, BCA shares dropped to Rp2,325 from Rp2,400 per share, Gudang Garam shares tumbled to Rp5,150 from Rp5,200 per share, and Kalbe Pharma shares decreased to Rp640 from Rp650 per share.
Investors were worried over a bank credit crunch due to the sluggish economic growth, Sinaga said.
"We are worried that non performing loans (NPL) which continue to increase, might negatively affect the national economy," he said.
He said the BEI index slump was also due to losses at the Wall Street stock market, although shares at the Tokyo bourse slightly added.
Investors tended to shift their funds to the commodity sector which is expected to improve again, he said.
The rupiah traded at Rp12,050/12,080 per US dollar here on early Friday, down 20 points from Rp12,030/12,40 per US dollar in the market's close a day earlier.
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The stock market consolidated after it had sharply tumbled over the past few days, Edwin Sinaga, a capital market observer, said here on Friday.
The BEI in fact opened higher, but after 10 minutes of trading activities, the stocks plunged again, he said.
Bank Danamon shares went down to Rp2,550 from Rp2,575, BCA shares dropped to Rp2,325 from Rp2,400 per share, Gudang Garam shares tumbled to Rp5,150 from Rp5,200 per share, and Kalbe Pharma shares decreased to Rp640 from Rp650 per share.
Investors were worried over a bank credit crunch due to the sluggish economic growth, Sinaga said.
"We are worried that non performing loans (NPL) which continue to increase, might negatively affect the national economy," he said.
He said the BEI index slump was also due to losses at the Wall Street stock market, although shares at the Tokyo bourse slightly added.
Investors tended to shift their funds to the commodity sector which is expected to improve again, he said.
The rupiah traded at Rp12,050/12,080 per US dollar here on early Friday, down 20 points from Rp12,030/12,40 per US dollar in the market's close a day earlier.
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