Wednesday, December 30, 2009

IDX closes 2009 with 87% gain

The composite index of Indonesia Stock Exchange (IDX) closed the 2009 trading at 2534 today, a 87% gain from December 30, 2008, to make it one of the best stock markets in the world. IDX is even better than Shanghai (79%) and Bombay (80%), even though Indonesian economy grew slower than China. 
Mining, plantation, banking, telecommunication, consumer, and property are all the top gainers on IDX. Bakrie-related stocks, which dominated the trading on IDX, closed substantially higher despite recent drops. Bumi Resources, the single largest traded stock---some dubbed it Indonesia's biggest casino---dropped 3% in its last trading on IDX today to Rp2425, far below prediction of some analysts (above Rp3000). Still, the stock gained 167% this year. The stock peaked at Rp3475 (Sept 17, 2009). 




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