Jakarta shares outlook - Flat amid prevailing US subprime concerns |
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Tue, 14 Aug 2007 03:25
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JAKARTA (Thomson Financial) - Indonesian shares are expected to open flat Tuesday as investors are hesitant to take positions, discouraged by Wall Street's weaker finish overnight, which suggests concerns over the US subprime lending problems persist.'I had expected Wall Street to finish in positive territory last night but it didn't happen. It seems investors in the US are still nervous,' a dealer with Indomitra Securities, who declined to be named, said.She said technically, the local bourse is capable of extending its late rebound from yesterday, but after Wall Street's poor finishing, investors may quickly sell into the market's strength.She said until the US subprime problem eases, the main index's support in the near term is seen at around 2,155 points.Yesterday, the composite index closed up 4.06 points or 0.2 percent at the day's high of 2,211.46. It had earlier traded to a low of 2,185.91.Volume was 6.28 billion shares worth 10.83 trillion rupiah.The Indonesian rupiah was trading at 9,340/9,350 to the US dollar, little changed from 9,340/9,345 late Monday.( 1 US dollar = 9,348 rupiah)aloysius.bhui@thomson.comalo/jgab/jgCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Jakarta shares outlook - Lower on renewed concerns over US subprime crisis 