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Jakarta stocks closed red at midday break

Written By Redaction on Minggu, 08 Mei 2011 | 17.55

JAKARTA: Jakarta Composite Index (JCI), a benchmark for all stock prices at Indonesia Stock Exchange, slightly declined 0.40% or 15.38 points to 3,800.89 at the mid-day break, tailing the regional markets which were mainly closed in red zone.

The JCI was moving in the range of 3,787.69-3,815.99.

The biggest contributor to the drop was PT Bank Mandiri Tbk with minus 4.09 points, followed by PT Bank Rakyat Indonesia minus 2.88 points, PT United Tractors Tbk minus 1.96 points and PT Bayan Resources minus 1.18 points.

Shares of PT Astra International, Indonesia’s largest auto maker and assembler, was one of several stocks that prevented the index drop with positive contribution of 2.90 points. Astra's stocks was traded at IDR56,850, jumping 1.07% or IDR660.

Shares of the company gained after obtaining approval from its annual general meeting of shareholders to distribute a final dividend of IDR1,600 per share or IDR6.47 trillion, reflecting a 45% payout ratio of its net income last year.

Shares that sustained the index were PT Indofood Sukses Makmur Tbk with 1.55 points, PT Bank Central Asia Tbk 1.44 points and PT Adaro Energy Tbk 0.94 point.

BISNIS-27 Index, the stock benchmark covering 27 stocks and launched by Bisnis Indonesia daily, also decreased 0.33% or 1.09 points to 330.73. BISNIS-27 Index moved within range of 328.46-331.78.

From regional, Nikkei 225 decreased 1.58% to 9,846.56, Hang Seng in Hong Kong market slightly abated 0.60% to 23,123.14. Shanghai SE declined 0.23% to 2,865.76, South Korea's Kospi slipped 1.80% to 2,141.56 and Straits Times in Singapore decreased 0.53% to 3,093.95. MSCI Asia Pacific Index declined 1.04% to 904.19.

The rupiah was down by 0.19% against the US dollar to IDR8,588 as of 11.42 a.m. in Jakarta. (NOM)

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