BEI INDEX OPENS 0.19 LOWER EARLY FRIDAY

Jakarta, May 1 (ANTARA) - The Indonesian Composite Stock Price Index (IHSG) at the Indonesian Stock Exchange (BEI) opened 0.19 percent lower, as investors refrained themselves from entering the market as they were worried over the May Day rallies.

The BEI index declined 3.227 points or 0.19 percent to 1,719.562 points and the LQ-45 index fell 0.922 points or 0.27 percent to 340.896.

The BEI index slightly tumbled as investors tended to stay idle and mostly released small-cap shares, Ahmad Riyadi, a share broker of PT Millennium Danatama Securities, said here early Friday.

"Investors prefer to stay at home because they feel safe, in case there is a chaos on the streets due to rallies staged by laborers commemorating the May Day," he said.

However, he believed that the slow trading activity would not continue for long if the laborers' rallies ran peacefully.

"We are optimistic that investors will buy shares again because shares in Indonesia, especially small-cap shares are still relatively cheap," he said.

Shares which plunged included Astra International shares that dropped Rp300 to Rp17,700, United Tractor shares which decreased Rp200 to Rp4,500, and Bukit Asam shares which went down Rp150 to Rp9,400 per share.,
Besides, Telkom, BRI, Bank Danamon, and Gudang Garam respectively fell Rp50 per share.