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JCI decreases 0.10 point to 3,980.75 in opening session

JAKARTA: Indonesian shares swung between gains and losses at the opening session as investor cautios on United States credit review.Jakarta Composite Index decreased 0.002% or 0.10 point to 3,980.75. At the early trading, JCI reversed to green zone.

JAKARTA: Indonesian shares swung between gains and losses at the opening session as investor cautios on United States credit review.Jakarta Composite Index decreased 0.002% or 0.10 point to 3,980.75. At the early trading, JCI reversed to green zone. As of 09.38, JCI gained 0.19% or 0.74 point to 3,988.23. JCI moved within range of 3,979.51-3,990.03. About one share gained for every one share that fell, whilst more than a half of the shares remained unchanged.Miscellaneous industry and consumer goods companies were trimming their advance the most in the morning.JCI tend to move mixed to lower today as investors cautious on US credit review, said Teuku Hendry Andrean, an analyst at PT Woori Korindo Securities.We expect IDX to move between support level 3,952-3,959 and resistance level 3,995-4,002, said Andrean.Moodys Investors Service, cited in Bloomberg, put the U.S., rated Aaa since 1917, under review for a credit-rating downgrade for the first time since 1995 on concern the governments $14.3 trillion debt limit will not be raised in time to prevent a missed payment of interest or principal on outstanding bonds and notes even though the risk remains low.The increase in JCI was led by PT Astra International Tbk which contributed 1.42 points to the index, PT Unilever Indonesia Tbk 1.34 points, PT Telekomunikasi Indonesia Tbk 1.18 points and PT Indofood Sukses Makmur Tbk 0.51 point.Shares that hampered the movement of JCI were PT Bank Central Asia Tbk with minus 1.43 points, PT Adaro Energy Tbk minus 0.93 point, PT United Tractors Tbk minus 0.65 point and PT Bumi Resources Tbk minus 0.61 point.Bisnis-27 Index rose 0.28% or 0.98 point to 347.49 as of 09.39 a.m. local time. The stock benchmark covering 27 stocks and launched by business daily newspaper dubbed Bisnis Indonesia moved within range of 346.24-347.60.Meanwhile, Dow Jones Industrial Average rose 0.36% to 12,491.61, S&P 500 Index advanced 0.31% to 1,317.72 and Nasdaq Composite Index slipped 0.54% to 2,796.92.From regional market, Nikkei decreased 0.37% to 9,926.74, Hang Seng dropped 0.22% to 21,878.15, Shanghai SE rose 0.47% to 2,808.11, Kospi decreased 0.56% to 2,117.61 and Straits Times increased 0.17% to 3,092.98.The MSCI Asia Pacific Index declined 0.27% to 862.69.The rupiah traded rose 0.15% against the US dollar at IDR8,536. (msw)

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