ID :
30317
Fri, 11/14/2008 - 19:20
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http://m.oananews.org//node/30317
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BEI`S INDEX SLIGHTLY UP FRIDAY
Jakarta, Nov 14 (ANTARA) - The composite share price index of the Indonesian Stock Exchange (BEI) closed slightly up by 0.37 percent or 4.664 points to 1,264.377 while the LQ45 index rose 0.53 percent or 1.296 points to 245,381.
A stock market analyst of PT Paramitra Alfa Sekuritas, Pardomuan Sihombing, said the BEI index did not rise as much as in other stock exchanges in the region because of the rupiah's depreciation as well as selling pressure on BUMI shares.
The rupiah again depreciated to around Rp11,525 against the US dollar on Friday after closing at Rp11.500 the day before.
Pardomuan said share trading on Friday was dominated by BUMI shares as almost 40 percent of the 53,934 transactions involved the company's shares.
The value of BUMI share transactions was also recorded as the highest at Rp1.220 trillion while transactions in the regular market as a whole were worth Rp2.107 trillion.
Pardomuan said pressure on the price of BUMI shares occurred because many investors realized their obligations. "Although there was a positive sentiment following a buyback of 17 percent of BUMI shares, their price remained unchanged closing at Rp20 to Rp1,160 per share," he said.
"The high number of transactions on BUMI shares caused the shares to undergo selling pressure and prevented the index from rising as steeply as those in other bourses in the region," he said.
Japan's Nikkei index rose 2.72 percent or 223.75 points to 8,462.38 while Hong Kong's Hang Seng index was up 2.43 percent or 321.31 points to 13,542.66.
The hike in the regional stock exchange indexes pushed the Indonesian Stock Exchange index up as gaining stocks dominated trading reaching 70 stocks. A total of 59 stocks dropped while 57 were stagnant and 274 not actively traded.
The rise in the Indonesian Stock Exchange index was led among others by shares of state gas company PT Perusahaan Gas Negara (PGN), which rose Rp40 to Rp1,750, coal mining company PT Tambang Batubara Bukit Asam which were up Rp450 to Tp6,300, Telkom which rose Rp100 to Rp5,800, mining company PT Antam that gained Rp20 to Rp1,050 and United Tractors which were up Rp150 to Rp3,875.
A stock market analyst of PT Paramitra Alfa Sekuritas, Pardomuan Sihombing, said the BEI index did not rise as much as in other stock exchanges in the region because of the rupiah's depreciation as well as selling pressure on BUMI shares.
The rupiah again depreciated to around Rp11,525 against the US dollar on Friday after closing at Rp11.500 the day before.
Pardomuan said share trading on Friday was dominated by BUMI shares as almost 40 percent of the 53,934 transactions involved the company's shares.
The value of BUMI share transactions was also recorded as the highest at Rp1.220 trillion while transactions in the regular market as a whole were worth Rp2.107 trillion.
Pardomuan said pressure on the price of BUMI shares occurred because many investors realized their obligations. "Although there was a positive sentiment following a buyback of 17 percent of BUMI shares, their price remained unchanged closing at Rp20 to Rp1,160 per share," he said.
"The high number of transactions on BUMI shares caused the shares to undergo selling pressure and prevented the index from rising as steeply as those in other bourses in the region," he said.
Japan's Nikkei index rose 2.72 percent or 223.75 points to 8,462.38 while Hong Kong's Hang Seng index was up 2.43 percent or 321.31 points to 13,542.66.
The hike in the regional stock exchange indexes pushed the Indonesian Stock Exchange index up as gaining stocks dominated trading reaching 70 stocks. A total of 59 stocks dropped while 57 were stagnant and 274 not actively traded.
The rise in the Indonesian Stock Exchange index was led among others by shares of state gas company PT Perusahaan Gas Negara (PGN), which rose Rp40 to Rp1,750, coal mining company PT Tambang Batubara Bukit Asam which were up Rp450 to Tp6,300, Telkom which rose Rp100 to Rp5,800, mining company PT Antam that gained Rp20 to Rp1,050 and United Tractors which were up Rp150 to Rp3,875.
