Indonesian shares outlook - Lower on falls in Asian, US markets

by uusjio | January 20, 2008 at 07:30 pm

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"We cannot fight the trend. If the region is going down, we will just follow suit," said Nico Suherman, an analyst at Panin Securities.
The fact that Wall Street closed lower Friday after President Bush announced a 145 billion dollar economic stimulus plan has raised doubts about whether the package will prevent a US recession, he told Thomson Financial.
"It is a bit difficult to guess what people think. Maybe the best strategy is to wait and see. In the meantime, when there is a major sell-off, there could be a chance for selective buying," Suherman said.
Among the stocks that could buck the trend are those of companies in the Bakrie group after Bakrie Brothers announced Friday a proposed 40.1 trillion rupiah rights issue, Indonesia's biggest ever.
Bakrie Brothers will use the proceeds to buy stakes in three affiliates: coal miner Bumi Resources, oil and gas company Energi Mega and property company Bakriland.
Trading in Bakrie Brothers stock will resume today, the stock exchange said. It was suspended Wednesday.
"The plan is ..

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