Indonesian shares prices closed 0.92 percent higher on Friday led by interest rate-sensitive stocks after the release of positive consumer price index (CPI) figures, dealers said. They said the inflation figures for August of 0.33 percent from 0.45 percent in the previous month, was better than expected.
The Jakarta Stock Exchange composite index closed up 13.228 points at 1,444.490. Volume was 1.21 billion shares valued at 1.39 trillion rupiah (152.75 million dollars). The rupiah was slightly lower at 9,090-9,095 to the dollar compared to Thursday's close of 9,102-9,107. Gainers outnumbered decliners 82 to 39, with 67 stocks unchanged.
Willy Sanjaya, an analyst with Mahakarya Artha Securities, said the market responded positively to the August inflation figures. "The August CPI data was lower than most analysts expected. I am certain that Bank Indonesia will further cut the BI rate at its meeting next Tuesday," he said. Among index heavyweights, Bank Mandiri was up 50 rupiah at 2,150 and rival Bank Rakyat Indonesia also gained 150 at 4,500.
Telkom dropped 50 to 7,850 but long distance operator Indosat rose 150 to 4,550. Gas firm PGN rose 200 to 12,850 and foodmaker Indofood also netted 10 to 1,200.
Comments
Comments are closed.