JCI drops 0.16% on profit taking

JAKARTA: The Jakarta Composite Index (JCI) faced a correction today as investors realized gains following the increase in JCI. The weakening of the regional market gave other pressure to drag JCI down.JCI slightly decreased 0.16% or 6.24 points to 3,826.14
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News Editor - Bisnis.com 30 Mei 2011  |  10:47 WIB

JAKARTA: The Jakarta Composite Index (JCI) faced a correction today as investors realized gains following the increase in JCI. The weakening of the regional market gave other pressure to drag JCI down.JCI slightly decreased 0.16% or 6.24 points to 3,826.14 today. The JCI was moving in the range of 3,813.66-3,836.87. About two shares fell for every share that was up. More than a half of the shares were unchanged.The biggest decline came from mining and energy sectors. The lagging movers included PT Adaro Energy Tbk, PT Borneo Lumbung Energi & Metal TBk, PT Tambang Batu Bara Bukit Asam Tbk, and PT Medco Energi Internasional Tbk.The shares of PT Harum Energy Tbk dropped 2.62%, the highest fell in three weeks, after Indonesias billionaire Kiki Barki plans to discharge 10% or 270 million shares of his ownership in coal miner PT Harum Energy Tbk at IDR9,050-IDR9,550 worth IDR2.51 trillion.The profit taking action would be temporarily because mining and energy sectors are estimated to book higher earnings amid the price increasing of coal, said MNC Securities Head of Research Edwin Sebayang.The correction is just temporary. Investors want to take gain. Based on fundamental analysys, mining and energy sector could give better earnings this year as the price increasing in coal, said Sebayang.BISNIS-27 Index, the stock benchmark covering 27 stocks and launched by business daily newspaper dubbed Bisnis Indonesia, slightly decreased 0.12% or 0.40 point to 331.80. Bisnis-27 Index moved within range 330.42-332.94.In the regional market, Nikkei 225 slipped 0.18% to 9,504.97, Hang Seng in Hong Kong market gained 0.29% to 23,184.32. Shanghai SE decreased 0.13% to 2,706.36, South Korean's Kospi declined 0.31% to 2,093.79, and Straits Times in Singapore gained 0.19% to 3,141.39.The MSCI Asia Pacific Index increased 0.11% to 900.09.The rupiah slightly gained 0.20% against the US dollar at IDR8,548. (NOM)

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