Jakarta shares rise

Indonesian shares are likely to rise as buyers move in to snap up mining-related stocks on an expected lift in oil prices, dealers said. "Early next week shares have the potential to look positive," Ciptadana Securities analyst John Teja told AFP. "Mining-related stocks are likely to rebound as there is anticipation that global oil prices will rebound," he said.
New York's main oil futures contract, light sweet crude for March delivery, advanced 78 cents to 34.76 dollars a barrel Friday after again touching a five-year low of 32.20 dollars reached on December 18. He said that the support level next week would be 1,300 and resistance 1,420. In the week to February 13, the Jakarta Composite Index gained 13.32 points to 1,338.74. The rupiah closed at 11,850 to the dollar compared to 11,800 the week before.