The JCI jumped 60.43 points, or 1.8 percent, to close at 3,397.63 after briefly touching 3,400. Volume was heavy, with six billion shares worth Rp 5.11 trillion ($572.3 million) traded. Gainers trounced decliners 125 to 47.
Financial stocks led the way higher. Bank OCBC NISP, a unit of Oversea-Chinese Banking Corp, jumped 25 percent to Rp 1,950, its biggest rise since September 2006, after its parent company said it planned to merge the bank with affiliate Bank OCBC. State-owned Bank Mandiri, the nation’s largest lender by assets, gained 4.8 percent after the House of Representatives on Wednesday approved its plan to sell 2.3 billion new shares in a rights offer to boost capital.
The House also approved Bank Negara Indonesia’s plan for a management stock option amounting to a 3 percent stake, or 664 million shares. BNI, the nation’s third-biggest state-owned bank, rose 7.2 percent to Rp 3,725.
Berlian Laju Tanker, the country’s largest shipping company, rose 1.8 percent to Rp 275 on news it planned to buy seven vessels worth $280 million from Japan, Investor Daily reported, citing Peter Chayson, Berlian’s general manager for investor relations.
Overseas investors bought a net $26.5 million of the nation’s shares in the first four days of the week, boosting net purchases for the year to $2.2 billion.
“The capital inflows into Indonesia’s higher-yielding assets are boosting sentiment,” said Helmi Arman, an economist and bonds strategist at Bank Danamon Indonesia in Jakarta.
“We don’t see any structural changes that will stop these inflows.”
Meanwhile, the rupiah gained 0.2 percent this week, gaining 0.1 percent on Friday to trade at 8,953 per dollar. The currency has appreciated 4.9 percent this year and touched a three-year high of 8,905 on Aug. 3. The currency was likely to be stable, with a “slight” risk of depreciation in 2011, Bank Indonesia Deputy Governor Hartadi Sarwono said this week.
No comments:
Post a Comment