JAKARTA: Indonesian shares decreased 0.01% or 0.37 point to 3,995.22 at the opening session in line with regional market which mainly losses boosted by the negative trend of world stock market due to a fear of a contagious Euro zone debt crisis.
At the early trading, Jakarta Composite Index (JCI) continued to drop. As of 09.42 local time, JCI declined 0.98% or 39.26 points to 3,956.33. JCI was moving at the range of 3,951.87-3,995.22. About nine shares fell for every one share up, whilst more than a half of the shares traded were unchanged. Finance and mining stocks decreased the most.Some blue chip shares were dragging JCI down, including PT Bank Rakyat Indonesia Tbk which gave minus 4.28 points contribution, followed by PT Bank Mandiri Tbk with minus 2.70 points, PT Telekomunikasi Indonesia Tbk minus 2.37 points and PT Telekomunikasi Indonesia Tbk minus 2.36 points.PT Ultrajaya Milk Industry & Trading Company Tbk was one of several stocks that supported the index with positive contribution of 0.14 point. Other positive moving shares were of PT Akasha Wira International Tbk with 0.06 point contribution, PT Hanson International Tbk 0.03 point and PT PT Buana Listya Tama Tbk 0.02 point.Investors also wait for the benchmark BI Rate announcement today. Several economists project BI rate to be maintained at 6.75% at todays board of governor meeting as the inflation expectation is still below 6% over the next few months.Regarding inflation, Central Bureau of Statistic (BPS) perceives the inflation for calendar year (January-June 2011) to reach 1.06% while year-on-year (June 2010-June 2011) declines to 5.54% from 5.98%.Meanwhile, Dow Jones Industrial Average fell 1.20% to 12,505.76, S&P 500 Index dropped 1.81% to 1,319.49 and Nasdaq Composite Index slid 2% to 2,802.62.From regional market, Nikkei 225 fell 1.53% to 9,915, Hang Seng in Hong Kong market shrank 2.08% to 21,886.22, Shanghai SE slipped 1.17% to 2,771.37, South Korean's Kospi fell 2.10% to 2,111.95 and Straits Times in Singapore slipped 1.10% to 3,083.08.The MSCI Asia Pacific Index fell 2.13% to 862.60.The rupiah traded decreased 0.28% against the US dollar at IDR8,553. (msw)
