YHAN NEWS: Rupiah Down

Jakarta index rebounds, rupiah sinking deeper

Photo document of Indonesian Stocks Eschange.

Jakarta index gained on Wednesday closing 43.7 percent higher at 4.218.45 points despite selling actions by foreign investors.

The 45 most liquid stocks also rose 1.31 percent to close at 696.15 points.

"Some market players found the condition ripe for accumulating shares," Evergreen Capital`s director Rudi Utomo said.

Net sales at the Indonesian Stock Exchange on Wednesday were valued at Rp895.545 billion.

Rudi said the government`s call on a number of financial institutions to take part in shoring up the market, helped the BEI index resist the pressure.

"Investors tended to buy shares with big capitalization on Wednesday," he noted.

Trade at BEI on Wednesday recorded 176,853 transactions with 5.146 billion shares valued at Rp5.67 trillion changing hands.

Gainers outnumbered decliners by 177 to 102 with 81 shares remaining unchanged.

Regional markets such as Hang Seng recorded a decline of 0.69 percent in index to 21,817.73 points with Nikkei-225 index up 0.21 percent to 13,424.33 points and that of Straits Times down 0.57 percent to 3,111.80 points

Meanwhile, the national currency rupiah continued to be on the decline inching closer to a new psychological level of 11,000 per dollar.

The currency lost more value to close at 10,945 on Wednesday from 10,730 per dollar.

Harry Sudi, the chief analyst of PT Bahana Securities, attributed the rupiah fall to expectation that the Fed would stop its financial stimulus.

The government is expected to be more serious in addressing the the problem with the country`s current account deficit, he said.

The country`s current account deficit swelled from US$5.8 billion in the first quarter to US$9.8 billion in the second quarter of the year piling up pressure on rupiah.

He said company having debt in US dollar would be among the hardest hit by the rupiah fall, Harry said.

Samuel Sekuritas` economist Lana Soelistianingsih said rupiah is feared to continue to dive deeper.

Lana, however, believed the rupiah has almost hit the rock bottom from which it would rebound.

"Around 65 percent of analyses say The Fed would start cutting its financial stimulus from US$85 billion to US$75 billion per month," she said. ***3***

Sources

Indonesia partisipated in London Youth Science Forum

Eleven Indonesian students from three universities namely Bandung Institute of Technology (ITB), University of Indonesia (UI), and Binus International High School Serpong participated in the London International Youth Science Forum held starting from July 23-August 6.

The event is a two week residential activity held annually since 1959 at Imperial College London, with lectures and demonstrations from leading scientists, visits to industrial sites, research centers, scientific institutions and organisation, including world class laboratories and universities.

This year`s theme is Crossing Sciences Boundaries which highlight the importance of all sciences to unite and collaborate to solve human problem.

Chairman of Indonesian delegates Garidra Pasha here on Sunday said during the event two Indonesian students got the chance to present their research paper in front of the audience. They were Andina Rosnandi with paper titled Study of Employee Satisfaction Based on Herzberg Theory Using Kano Method and Garindra himself with research title Optimizing Flow Capacity in Piping Network using Simple Network Method.

Meanwhile President of LIYSF 2013 Professor Richard O`Kennedy said the youth science forum held in London is a reminder of scientists` contribution to the world.

Apart from becoming an sharing of knowledge event for participants, the LIYSF also enables students from around the world to socialize and build network.

Sources

Jakarta index up on buying action

Buying action pushed up the Indonesian benchmark stock index in the early trading on Friday after a fall in the previous day.

The index of the Indonesian Stock Exchange (BEI) opened 0.59 percent higher at 4,196.09 points .

The index of 45 most liquid stocks also rose 0.91 percent to 695.78 points.

Chief researcher of Trust Securities Reza Priyambada predicted the BEI index would move to as high as 4,225 points in Friday trading.

Regional markets such as Hang Seng recorded a 0.64 percent rise in index to 22,036.35 points with Nikkei-225 index climbing 2.58 percent to 13,710.45 points and that of Straits gaining 0.33 percent to 3,099.27 points.

Sources

Jakarta index falls deeper

Negative sentiment over expectation that the US central bank to cut its financial policy again dragged down Indonesia`s benchmark stock index on Thursday.

The index of the Indonesian Stock Exchange closed 1.11 percent lower at 4,171.41 points with index of 45 most liquid stocks down 0.96 percent to 689.49 points.

"Speculation about The Fed`s final decision prompted market players at the domestic market to release shares resulting in deeper fall of the index," Trust Securities` chief researcher Reza Priyambada said.

Reza said the government`s call on domestic financial agencies to enter the market was not enough to resist the pressure on the index.

He noted, however, a number of stocks gained before the close on Thursday giving rise to hope that the index would regain some of the losses on Friday.

"The potential to gain is there or at least losses would not be as deep as on Thursday," he predicted.

He said foreign investors still tend to sell their shares contributing to the share price fall.

Net sales by foreign investors reached Rp887.949 billion in the BEI on Thursday.

There were 215,616 transactions in Thursday`s trading at BEI with 5.914 billion shares valued at Rp6.040 trillion changing hands.

Gainers were outnumbered by decliners by 100 to 207 with 64 stocks unchanged.

Regional markets such as Hang Seng gained 0.36 percent in index to close at 21,895.40 points with Nikkei-225 index down 0.44 percent to 13,365.17 points and that of Straits Times lost 0.47 percent to 3,094.35 points.

Sources