Friday, March 05, 2010

IDX opens higher by 0.3%

The composite index of IDX opened higher by 8 points (0.32%) this morning as investors were cautiously responding recent political dynamics.
President SBY sent a strong signal to keep VP Boediono and finance minister Sri Mulyani in their respective post, pretty much in line with "market" expectations. The index looks moving to higher territory on this when IDX advanced further by 0.6% few minutes after the opening. But then the index retreated to gain only 0.4% in the firs hour of trading.
The index declined slightly yesterday with Bakrie-related stocks closed mixed. BUMI and BTEL gained, while ELTY and ENRG lost 1.26% and 2.13% respectively. Regional markets closed mainly lower yesterday, led by Shanghai's 2.4% drop.
But this morning, most markets in the region rebounded sharply led by Nikkei's +2% and Hang Seng's +0.8%.




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