ID :
57864
Tue, 04/28/2009 - 07:55
Auther :
Shortlink :
https://www.oananews.org//node/57864
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BEI INDEX OPENS HIGHER ON SMALL-CAP SHARE GAINS
Jakarta, April 27 (ANTARA) - The Composite Stock Price Index (IHSG) at the Indonesian Stock Exchange (BEI) here on Monday morning opened 0.27 percent higher as investors hunted small-cap shares of the second and third layers.
The BEI index surged 4.302 points or 0.27 percent to 1,595.621, and the LQ-45 index advanced 0.419 percent to 314.643.
Investors were still very cautious in entering the stock market, because they still considered the external factor from the regional bourse gains, following rebound at the Wall Street bourse in New York, Harry Kurniawan, a market analyst of PT Bapindo Bumi Securities, said here on Monday.
Investors only bought small-cap shares of the second and third layers, therefore the BEI index's gains were quite small.
They also waited for a report of the Central Bureau of Statistics (BPS) on the the April inflation rate which was expected to be lower than that in the previous month, he said.
"We are optimistic that when The BPS' report is issued, the trading activities at the domestic money market and the bourse will
be better again because foreign investors will have more trust in the Indonesian economy, which is still growing well," he said.
Shares on high demand included those of pharmaceutical company Kalbe Farma, as the company will buy back its shares, while Kimia Farma plans to merge with another pharmaceutical firm.
Meanwhile, shares of automotive industry Astra International also gained but the volume of sold shares was quite small, so that it did not contribute positive sentiment to the market, he said.
However, the BEI index still had a good chance to further gain, as a low inflation rate was very much possible, and cutting down of bank credit interest rate would also continue, he said, adding that those developments bolstered foreign investors to again invest their funds in the domestic market.
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The BEI index surged 4.302 points or 0.27 percent to 1,595.621, and the LQ-45 index advanced 0.419 percent to 314.643.
Investors were still very cautious in entering the stock market, because they still considered the external factor from the regional bourse gains, following rebound at the Wall Street bourse in New York, Harry Kurniawan, a market analyst of PT Bapindo Bumi Securities, said here on Monday.
Investors only bought small-cap shares of the second and third layers, therefore the BEI index's gains were quite small.
They also waited for a report of the Central Bureau of Statistics (BPS) on the the April inflation rate which was expected to be lower than that in the previous month, he said.
"We are optimistic that when The BPS' report is issued, the trading activities at the domestic money market and the bourse will
be better again because foreign investors will have more trust in the Indonesian economy, which is still growing well," he said.
Shares on high demand included those of pharmaceutical company Kalbe Farma, as the company will buy back its shares, while Kimia Farma plans to merge with another pharmaceutical firm.
Meanwhile, shares of automotive industry Astra International also gained but the volume of sold shares was quite small, so that it did not contribute positive sentiment to the market, he said.
However, the BEI index still had a good chance to further gain, as a low inflation rate was very much possible, and cutting down of bank credit interest rate would also continue, he said, adding that those developments bolstered foreign investors to again invest their funds in the domestic market.
***2***
