Bank results failed to lift IDX

IDX composite index inched up 0.04% in the first session this morning despite strong 2009 financial results announced by two major banks, CIMB Niaga and BNI.

Trading was relatively thin. Bumi Resources, which usually dominates the trading, recorded only 18 million shares exchanged hands. The busiest stock was Eterindo (ETWA) but its trading value was only Rp16 billion. Most banking stocks lost ground, except BCA, BNI, and Bukopin, also on thin trading.

Well, most investors enjoy the Chinese New Year holiday. Singapore, Malaysia, and Hong Kong markets would only resume trading tomorrow. Shanghai will return next Monday.

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