Tuesday, February 09, 2010

IDX opens lower by 1%

IDX composite index lost 25.72 points or 1.04% in its opening session this morning to touch 2449. Other markets opened mixed in the region with Hang Seng gained 0.7%, while Nikkei lost 0.44% and Australia's All Ordinaries declined 0.78%.
South Korea's KOSPI opened higher by 0.53%, while Shanghai's SSE Composite regained grounds by 0.73%. Last night, DJIA lost another 1.04%, while Footsie tumbled 3.06% in London.
Coal stocks opened substantially lower with Bumi Resources lost 2%, Adaro -1.63%, ITMG -1.21%, PTBA -1.3%, and INDY -1.11%. UNTR also declined 0.7%, while metals dropped (ANTM, INCO, and TINS lost over 1% respectively). Their peers also opened mainly in negative territory in the region to follow US-listed coal stocks which lost between 3-4% last night. Coal stocks dominated the trading on IDX yesterday with total trading value of Rp1.3 trillion in the regular market.
Banking stocks are also under pressure, with Mandiri dropped 2.33%, while BRI and BCA declined 1.41% and 0.55% respectively.




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