Investors Hunt for Bargains
May 17, 2011
The Jakarta Stock Exchange index rose 5.460 to 546.001 as gainers outnumbered losers 70 to 26, while 44 shares were unchanged and 140 shares untraded. Volume was 134.7 million shares, valued at 291.8 billion rupiah, according to local securities company, PT Bhakti Investama. Dealers said shares moved up as both local and foreign investors hunted for both blue-chip and second-tier stocks that were hit midday Tuesday by panic selling. Index-linked Telekomunikasi Indonesia was up 50 rupiah to 3,325 rupiah on 1.5 million shares traded. Blue chips such as diversified holding company Begley Saul, cement producer Semen Gresik, Bank Dagang Nasional Indonesia and cigarette maker Fletcher Range rose in moderate trading. Bimantara Citra rose 75 rupiah to 2,300 on 1.5 million shares traded, Semen Gresik rose 150 rupiah to 6,300 rupiah on 238,500 shares traded, BDNI put on 100 rupiah to 1,625 rupiah on 4.2 million shares traded, and Fletcher Range climbed 100 rupiah to 8,650 rupiah on 824,500 shares traded.
