JAKARTA STOCKS OPEN LOWER ON WALL STREET LOSSES

Jakarta, Jan 25 - The Composite Stock Price Index (IHSG) at the Indonesian Stock Exchange (BEI) here on Monday morning opened lower as investors released their shares following Wall Street losses.

The BEI went down 0.65 points or 0.65 percent to 2,593.375 and the LQ-45 index fell 3,858 points or 0.75 percent to 508.089 points.

Investors sold their shares following Wall Street losses as US US President Barack Obama had called for major banks to reduce their risk taking, Alfiansyah, a research analyst of PT Sinarmas Securities, said.

"We are optimistic that the market`s pressure would not drag on, and that investors will again buy shares which have been depreciated," he said.

He also believed that the stock market would recover soon as investors were optimist that Indonesia`s economic growth would be better.

Besides, Indonesia was believed to be resistant to crisis and therefore its economy continued to grow, he said.

The Indonesian government was also currently revising a cooperation agreement between China and ASEAN, including Indonesia, in order to restrict the flow of Chinese products into Indonesia, he said.

He reminded the government to boost the country`s exports overseas in order to increase the incomes.

Source: Copyright © ANTARA

H-CS (f001/A/HAJM/13:15/B/O001) (T.SYS/B/F001/B/O001) 25-01-2010 13:19:45 NNNN

Posted in: Chinese products,Composite Stock Price Index (IHSG),Indonesian Stock Exchange (BEI),JAKARTA STOCKS OPEN LOWER,PT Sinarmas Securities,WALL STREET LOSSES