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Jakarta Post

JCI up but logs as 7th worst in region

  • Ika Krismantari,

    The Jakarta Post,

Jakarta   /   Wed, December 31 2008   /  10:51 am

After being the third best bourse in the region last year with the index jumping up by 52.08 percent, the Jakarta Composite Index (JCI) has now been designated, by contrast, as the seventh worst performer in the region, though the benchmark gained some strength in its last trading day on Tuesday. Data from the Indonesia Stock Exchange shows the index plunged by 49.3 percent during the year to a level of 1,355.89 from 2,745.82 recorded at the 2007 closing. However, the decline is considered by many as fairly modest compared to the worst performers -- Shenzen and Shanghai in China, followed by Mumbai Sensex in India, Hangseng in Hongkong, Straits Times in Singapore, and Weighted Taipei in Taiwan. The JCI market capitalization also fell 45.8 percent to Rp 1,076 trillion (US$98.99 billion) from Rp 1,988.3 trillion in 2007 following the regional market collapse, ...