"The financial reports of US companies fell below expectation causing negative sentiment in the market," Panin Sekuritas` analyst Purwoko Sartono said.Jakarta (ANTARA News) - The Indonesian Stock Exchange (BEI) opened trade here on Tuesday morning with share price index falling on negative sentiment brought about by financial reports of US companies.
The index lost 0.26 point to 4,331.10 points with the index of 45 most liquid stocks down 0.01 percent to 747.48 points.
"The financial reports of US companies fell below expectation causing negative sentiment in the market," Panin Sekuritas` analyst Purwoko Sartono said here on Tuesday.
Meanwhile, European debt problem was worse after the German finance minister expressed doubt that Greece could meet the requirement set for it to receive new fund aid.
However, the growth of the US GDP and improved economic data that grew 2 percent beyond expectation in the third quarter are expected to be able top offset negative sentiment, Purwoko said.
"The US economy in the third quarter was driven mainly by consumer spending , and housing construction," he said.
He predicted that the Jakarta index would move moderately around 4,310-4,348 points to day to follow the regional trend.
Sinarmas Sekuritas` analyst James Wahjudi said speculation about the impact of the "Hurricane Sandy" on the US economy and Japan`s economic data especially per sonal income data , personal spending and industrial production data would shore up the BEI index, he said.
"Additional sentiments also come with anticipation of financial report of listed companies in the country," he said.
In mid day trading the index reversed gaining 0.40 percent to 4,348.63 points.
Regional markets Hang Seng recorded a 0.09 percent increase in index to 21,530.43 points, with Nikkei-225 index up 0.38 percent to 8,963.12 and Straits Times rising 0.03 percent to 3,030.54 points. (*)
Editor: Heru Purwanto
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