ID :
22818
Mon, 10/06/2008 - 07:05
Auther :
Shortlink :
http://m.oananews.org//node/22818
The shortlink copeid
BAPEPAM: SHARE MARKET NOW STABLE
Jakarta, Oct 5 (ANTARA) - The chairman of the Financial Insitutions and Capital Market Supervisory Board (Bapepam LK), Fuad Rahmany, said here on Sunday that the country's market share was already stable as many hedge fund players had left the country.
"The situation now is already good or more or less stable, because the so-called hot money has now vanished. The present index recorded at 1,800 is an index without the hot money," he said.
Previously, he said, the number of foreign ownership in the country's share market reached around 63 percent but now it had dropped to around 50 percent.
Regarding investment funds, he said, none were linked to securities connected with Lehman Brothers or Morgan Stanley. "They do not buy the papers of Lehman Brothers nor of Morgan Stanley. We have checked. We have checked all the investment funds in Indonesia. They are not exposed to Lehman Brothers or Morgan Stanley. They said they are not," he said.
The Jakarta Stock Exchange's composite index in the past few days has dropped because of the US crisis from its highest 2,820.260 to only 1,000 points.
Before the Idul Fitri holiday it was closed at 1,846.091. The decline according to analysts followed the US current financial crisis that had made many foreign investors to leave the country to offset the loss they made in the US.
"The situation now is already good or more or less stable, because the so-called hot money has now vanished. The present index recorded at 1,800 is an index without the hot money," he said.
Previously, he said, the number of foreign ownership in the country's share market reached around 63 percent but now it had dropped to around 50 percent.
Regarding investment funds, he said, none were linked to securities connected with Lehman Brothers or Morgan Stanley. "They do not buy the papers of Lehman Brothers nor of Morgan Stanley. We have checked. We have checked all the investment funds in Indonesia. They are not exposed to Lehman Brothers or Morgan Stanley. They said they are not," he said.
The Jakarta Stock Exchange's composite index in the past few days has dropped because of the US crisis from its highest 2,820.260 to only 1,000 points.
Before the Idul Fitri holiday it was closed at 1,846.091. The decline according to analysts followed the US current financial crisis that had made many foreign investors to leave the country to offset the loss they made in the US.
