JAKARTA COMPOSITE INDEX OPENS LOWER

Jakarta, 22 Dhulhijjah 1435/16 October 2014 (MINA) – The Jakarta composite index opened lower on Thursday to follow negative sentiment over global economic worries, after closing higher on Wednesday.

The index of the Indonesian Stock Exchange (BEI) dropped 29.64 points or 0.60 percent to 4,933.29 points with index of 45 most liquid stocks down 0.72 percent to 833.04 points, Antara news quoted by Mi’raj Islamic News Agency (MINA) as reporting.

“Share prices in global markets fell sharply following reports on US retail sales that shrank below expectation and fears of worsening European economic condition,” Samuel Sekuritas analyst Tiesha Narandha Putri said.

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In addition, the oil price fall of 0.6 percent on Thursday morning had negative impact on commodity shares on the domestic market, Tiesha said.

“We predict the oil price fall would still keep commodity shares below their normal performance,” she said.

However, favorable condition ahead of the installation of the president elect and vice president elect on Oct 20 help curb the price fall, she added.

“The plan is that Jokowi (the president elect) would announce his cabinet line up a day after the installation,” she said.(T/R03/R04)

Mi’raj Islamic News Agency (MINA)