ID :
109800
Thu, 03/04/2010 - 17:37
Auther :
Shortlink :
https://oananews.org//node/109800
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JAKARTA STOCKS TRADE LOWER ON BANKING LOSSES
Jakarta, March 4 (ANTARA) - Indonesian stocks traded lower at the Indonesian Stock Exchange (BEI) here on Thursday morning on banking share losses.
The Composite Stock Price Index (IHSG) fell 2.952 points or 0.10 percent to 2,565.972 points, and the LQ-45 index weakened 0.13 percent or 0.626 point to 499.421.
Investors sold their banking shares following pressure to lower bank credit interest rates, Alfiansyah, a foreign exchange analyst of PT Sinarmas Securities, said here on Thursday.
If banks cut their credit interest rates, their profits are likely to fall, he said.
Investors were also waiting for further developments following the result of a vote at the House plenary session on the Bank Century case describing the failed bank's bailout in 2008 as fraught with violations and irregularities, he said.
Therefore, investors were cautious and tended to sell blue chip shares, he said.
Among top losers at the BEI were Gudang Garam shares that plunged Rp300 to R27,450, Astra Agro lestasi shares that fell Rp50 to Rp24,000, Bank BRI shares that lost Rp100 to Rp8,300,
Bank Danamon shares that weakened Rp100 to Rp5,050, bank BTN shares that declined Rp10 to Rp1,020, and bank BTPN shares that slumped Rp50 to Rp660 per share.***
The Composite Stock Price Index (IHSG) fell 2.952 points or 0.10 percent to 2,565.972 points, and the LQ-45 index weakened 0.13 percent or 0.626 point to 499.421.
Investors sold their banking shares following pressure to lower bank credit interest rates, Alfiansyah, a foreign exchange analyst of PT Sinarmas Securities, said here on Thursday.
If banks cut their credit interest rates, their profits are likely to fall, he said.
Investors were also waiting for further developments following the result of a vote at the House plenary session on the Bank Century case describing the failed bank's bailout in 2008 as fraught with violations and irregularities, he said.
Therefore, investors were cautious and tended to sell blue chip shares, he said.
Among top losers at the BEI were Gudang Garam shares that plunged Rp300 to R27,450, Astra Agro lestasi shares that fell Rp50 to Rp24,000, Bank BRI shares that lost Rp100 to Rp8,300,
Bank Danamon shares that weakened Rp100 to Rp5,050, bank BTN shares that declined Rp10 to Rp1,020, and bank BTPN shares that slumped Rp50 to Rp660 per share.***
