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Jakarta Post

Stock market weathering financial storm, needs more quality firms

  • The Jakarta Post

Jakarta   /   Fri, July 4 2008   /  11:08 am

Indonesia's capital market has coped well amid a global financial storm thanks to its natural resources, but the country lacks quality companies to invest in, economists say. "Indonesia is actually doing better than stock markets in many other countries at the moment, although it is down compared to last year's results," Tim Leissner, co-president of Goldman Sachs, said in a discussion organized by the Indonesian Young Entrepreneur Association in Jakarta on Thursday. He said Indonesia was able to rely on its natural resources amid a period of deflationary pressure from a suffering housing market and lower consumption in the US, and inflationary pressure from higher commodity and energy prices. The Indonesia Stock Exchange (IDX) composite index fell 91.86 points, or 3.9 percent, to 2,286.61 on Friday from a day earlier. According to Bloomberg, the ...