Jakarta shares set for modest gains

Indonesian shares are set for a week of modest gains, with bargain-buying on commodity-related shares propping up a volatile main index, a dealer said. Next week's rise in commodity-related stocks will continue an end-of-week rally of undervalued shares in miners and plantation companies, Suherman Santikno from Batavia Prosperindo said.
For the week ending August 22, the Jakarta Composite Index rose 35.34 points, or 1.7 percent, to finish at 2,120.49. "What happened over the last three days has been the price rebound of commodities stocks. I expect the commodity-related stocks rally to proceed in the short time, including next week," he said. Non-commodity stocks will be volatile with few gains over the week, Santikno said.