Jakarta shares likely to rebound

Indonesian share prices will rebound as buyers move in to snap up bargain-price commodity-related stocks, dealers said Friday. "What we saw this week was big players re-balancing their portfolios from commodities to other sectors, particularly finance stocks," said Suherman Santikno from Batavia Prosperindo.
Sharp drops in commodity stocks meant buyers would be looking to take advantage of cheap prices for coal and plantation stocks, Santikno said. For the week ending July 17, the Jakarta Composite index dropped 135.71 points or 5.96 percent to 2,141.14. At the close of trade Friday, the rupiah was at 9,160 to the dollar, compared to 9,155 the day before.