ฝรั่ง ช.การชิ่ง The Jakarta Composite Index (JCI) fell 5.6 percent yesterday, the biggest retreat in almost two years, as foreign investors sold a net $169 million of shares, the biggest outflow since June 21, according to exchange data compiled by Bloomberg. The index wiped out this year’s gains and traded at 13 times estimated profit for the next 12 months, the lowest level since June 2012. Healthy Retreat Further declines in the rupiah may cause foreign-exchange losses for overseas investors and an unstable outlook for businesses that need to hedge currency risk, said Jemmy Paul, an equity fund manager at Sucorinvest Asset Management in Jakarta. The benchmark Jakarta index may fall to between 4,200 and 4,000 before new buyers emerge, he said. Utilities and consumer companies that are more resilient to economic swings are a better bet, he said. PT Telekomunikasi Indonesia and PT Perusahaan Gas Negara are among his top picks.
Posted on: Tue, 20 Aug 2013 01:18:20 +0000
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