Indonesia shares end down 2.1% at 2020.139 in moderate volume, off intraday low of 1993.492, as weak Asian markets trigger foreign selling in most blue chips.
"Worries that the rupiah will continue to weaken also weighed on overall sentiment here," says trader; but adds bargain buying by local funds lifts index from its low.
Foreigners net sellers of IDR259 billion worth of shares. Among decliners: Bank Rakyat (BBRI.JK) off 4.4% at IDR6,500 on profit-taking, while nickel miner Inco (INCO.JK) down 5.3% at IDR3,600, tin miner Timah (TINS.JK) off 5.4% at IDR1,770 on lower commodity prices.
source : rti
Monday, July 13, 2009
Indonesia Shares End Down 2.1% But Off Lows
Nikkei Falls Below 9,100 As Politics In Flux
The Nikkei Stock Average fell below 9,100 Monday afternoon, meaning that the gains of the past two months have now been erased.
Indonesia Shares Down 2.0% Midday; 2010 Support
Indonesia shares widen losses by midday on further profit-taking by local funds amid worries IDR to continue to weaken.
Main index down 2.0% at 2021.358 in moderate volume; support at 2010.
"The local market is also running out of fresh leads at a time when most Asian bourses are in the red amid renewed concerns over the state of the economy in the U.S.," says analyst at foreign securities firm.
Among decliners: palm oil company London Sumatra (LSIP.JK) off 6.3% at IDR600, nickel miner Inco (INCO.JK) down 5.3% at IDR3,600, tin miner Timah (TINS.JK) off 5.4% at IDR1,770 on lower commodity prices.
source : rti
Saturday, July 11, 2009
U.S. stocks post 4th straight week of losses
Earnings jitters, slumping oil push stocks down, giving market its 4th straight week of losses.
Investors seem to be running short on hope.
With little upbeat news ahead of a crush of corporate earnings reports next week, stocks on Friday hit their longest losing streak since the market's spring rally began in early March.
The Dow fell 36.65, or 0.5 percent, to 8,146.52. It was the lowest close for the blue chips since April 28.
Friday, July 10, 2009
Nikkei Closes Down 0.04% At 9287.28
Tokyo stocks fell Friday for the eighth straight session after fluctuating in directionless trading, as investors fretted about damage to exporters' profits from a strong yen and became tentative ahead of U.S. quarterly corporate earnings and other data due out next week.
Indonesia Shares Down 0.1% Midday; 2070 Support
Indonesia shares by midday down 0.1% at 2081.216 in light volume, off high of 2088.035 but also off low of 2076.203; selling in telecom, auto blue chips keeping index in negative territory, with 2070-2090 range tipped rest of day.
"The market is running out steam after gains in the previous two sessions," says trader at foreign securities firm.
Among decliners, bellwether Telkom (TLKM.JK) off 1.9% at IDR7,950 after ADRs fell, car distributor Astra (ASII.JK) off 1.6% at IDR24,250, coal miner Bumi (BUMI.JK) down 1.1% at IDR1,830.
source : rti
Gains in financials, technology stocks lift U.S. market
Stocks edge higher as investors' appetite for risk improves; financials, technology gain.
Stocks edged higher Thursday, with all the major indexes rising in the single digits. Investors encouraged by better-than-expected results from aluminum maker Alcoa Inc. put money into stocks they recently avoided: commodities producers, banks and industrial companies.
The Dow Jones industrial average rose 4.76, or 0.1 percent, to 8,183.17, the second day of modest gains after a 161-point drop on Tuesday.
Thursday, July 9, 2009
Indonesia Markets Up Only Mildly Despite Yudhoyono Hopes
Indonesian markets were only mildly higher Thursday even as initial vote counts indicated popular incumbent president Susilo Bambang Yudhoyono had breezed to a second term in office, as investors had largely anticipated such an outcome.
Analysts though generally agreed a stronger mandate for Yudhoyono would allow him greater leeway in the legislature to proceed with economic and other reforms, and local assets would gain more going forward.
"Yudhoyono's next government is likely to have broader parliamentary support, be more secular and technocratic-based," said analysts at Standard Chartered.
The main stock index was a little choppy, ending 0.03% higher at 2083.974, off a high of 2114.71 but also off a low of 2060.70. Share traders said the index is likely to trade in a 2060-2150 range Friday.
The stock market had already risen 3.4% since the start of July, partly on election-related hopes, and 9.3% since the start of June, with the rupiah one of the best performing Asian currencies in recent months.
In part, the subdued reaction in stock markets was put down to the global declines in commodity and energy prices, which weighed on those sectors across Asia.
Palm oil company Astra Agro Lestari fell 2.0% and gas company Perusahaan Gas Negara 1.5%. State lender Bank Rakyat and carmaker Astra International both added 9.2% on expectations of solid first-half earnings as consumer sentiment has picked up.
"Selling in commodity-related stocks on lower oil prices offset earlier gains," said Rifki Isnaini Hassan, a fund manager at Andalan Artha Advisindo. Some were waiting on official results from the election, which should come at the end of July.
But a number of exit polls that have proved reliable in the past showed Yudhoyono had handily surpassed the 50% threshold needed to avoid a second round of voting in September. Even so, analysts said the near-term upside for Indonesian assets was limited.
source : rti
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