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Indonesia Stocks Drop as Index Falls as Much as 20% From Peak
by Cals Tue 20 Aug 2013, 10:54
Indonesia Stocks Drop as Index Falls as Much as 20% From Peak
By Harry Suhartono - Aug 20, 2013 10:27 AM GMT+0800
Indonesia stocks declined for a fourth day, sending the benchmark index down as much as 20 percent from its record high three months ago.
The Jakarta Composite Index (JCI) declined 1.4 percent to 4,251.50 at of 9:20 a.m. local time, extending its four-day drop to 8.7 percent. The gauge fell as much as 3.4 percent to 4,167.59, compared with its closing record of 5,214.98 on May 20. PT Bank Mandiri and PT Unilever Indonesia were among the biggest drags on the index as trading volumes climbed to 32 percent above the 30-day average.
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A man walks past an electronic board displaying the closing figure of the Jakarta Composite Index (IDX Composite) at the Indonesia Stock Exchange in Jakarta on Aug. 19, 2013. Photographer: Dimas Ardian/Bloomberg
Indonesian shares have tumbled at the fastest pace worldwide this quarter as a record current-account gap sent the rupiah to the weakest level since 2009 and spurred concern the central bank will tighten monetary policy further to combat the quickest inflation four years. The Jakarta index wiped out this year’s gains yesterday and traded at 13 times estimated profit for the next 12 months, the lowest level since June 2012.
“We are in bear-market territory,” saidPriyo Santoso, the chief investment officer at PT Mandiri Manajemen Investasi. “We have been defensive in our strategy in the past few days.”
To contact the reporter on this story: Harry Suhartono in Jakarta at [You must be registered and logged in to see this link.]
To contact the editor responsible for this story: Michael Patterson at[You must be registered and logged in to see this link.]
By Harry Suhartono - Aug 20, 2013 10:27 AM GMT+0800
Indonesia stocks declined for a fourth day, sending the benchmark index down as much as 20 percent from its record high three months ago.
The Jakarta Composite Index (JCI) declined 1.4 percent to 4,251.50 at of 9:20 a.m. local time, extending its four-day drop to 8.7 percent. The gauge fell as much as 3.4 percent to 4,167.59, compared with its closing record of 5,214.98 on May 20. PT Bank Mandiri and PT Unilever Indonesia were among the biggest drags on the index as trading volumes climbed to 32 percent above the 30-day average.
Enlarge image[You must be registered and logged in to see this image.]
A man walks past an electronic board displaying the closing figure of the Jakarta Composite Index (IDX Composite) at the Indonesia Stock Exchange in Jakarta on Aug. 19, 2013. Photographer: Dimas Ardian/Bloomberg
Indonesian shares have tumbled at the fastest pace worldwide this quarter as a record current-account gap sent the rupiah to the weakest level since 2009 and spurred concern the central bank will tighten monetary policy further to combat the quickest inflation four years. The Jakarta index wiped out this year’s gains yesterday and traded at 13 times estimated profit for the next 12 months, the lowest level since June 2012.
“We are in bear-market territory,” saidPriyo Santoso, the chief investment officer at PT Mandiri Manajemen Investasi. “We have been defensive in our strategy in the past few days.”
To contact the reporter on this story: Harry Suhartono in Jakarta at [You must be registered and logged in to see this link.]
To contact the editor responsible for this story: Michael Patterson at[You must be registered and logged in to see this link.]
Cals- Administrator
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Re: Indonesia Stocks Drop as Index Falls as Much as 20% From Peak
by peanut Tue 20 Aug 2013, 11:00
got chance to buy cheaper 
peanut- Senior Member
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Join date : 2012-04-06
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