Jakarta stocks index rises for 1st day in three<\/p>\n
Bloomberg, Jakarta<\/p>\n
Indonesian stocks rose on Tuesday for the first day in three as
\nthe rupiah strengthened from a three-year low against the dollar.
\nPT Indofood Sukses Makmur, the world's largest maker of instant
\nnoodles, paced gains.<\/p>\n
PT Telekomunikasi Indonesia, the nation's biggest telephone
\ncompany, climbed for the first day in eight after Bisnis
\nIndonesia said the number of subscribers at its cellular unit
\ngrew 16 percent this year.<\/p>\n
The Jakarta Composite Index jumped 11.89, or 1.2 percent, to
\n1031.77, halting a two-day, 4.8 percent slide.<\/p>\n
\"The rupiah's rebound helped stock sentiment,\" said Purboyo
\nPurnomo, who helps manage US$826 million in stocks and bonds for
\nPT Mandiri Manajemen Investasi in Jakarta.<\/p>\n
Indofood rose Rp 40, or 3.9 percent, to Rp 1,060. About 60
\npercent of the company's production costs are linked to the U.S.
\ndollar, the company said earlier.<\/p>\n
Bank shares advanced after the central bank said it began
\nselling a new type of three-day debt, with an interest rate of
\n3.625 percent, aimed at reducing liquidity in the markets.<\/p>\n
\"It's a good move,\" Purboyo said. \"It may help slow the rate
\nof inflation and stem a decline in the rupiah.\"<\/p>\n
PT Bank Rakyat, Indonesia's fourth-largest lender by assets,
\nrose Rp 75, or 2.8 percent, to Rp 2,725. PT Bank Central Asia,
\nthe No. 2, added Rp 50, or 1.6 percent, to Rp 3,200.<\/p>\n
The following stocks also rose or fell in Jakarta. Stock
\nsymbols are in parentheses after company names.<\/p>\n
PT International Nickel Indonesia, the local unit of the
\nworld's second-biggest nickel-mining company, Inco Ltd., rose Rp
\n100, or 0.8 percent, to Rp 13,150.<\/p>\n
The company said it plans to spend $280 million over four
\nyears to raise capacity to 200 million pounds of nickel by 2009,
\nfrom 160 million pounds this year.<\/p>\n
PT Tambang Batubara Bukit Asam, an Indonesian state-controlled
\ncoal company, jumped Rp 80, or 6.2 percent, to Rp 1,380. The
\ncompany will complete plans to acquire PT Multi Harapan Utama by
\nthe end of the month, Bisnis Indonesia reported, citing Bukit
\nAsam's president, Ismet Harmaini.<\/p>\n
PT Telekomunikasi Indonesia, the nation's biggest telephone
\ncompany, added Rp 25, or 0.6 percent, to Rp 4,375, ending a
\nseven-day, 7.9 percent slump.<\/p>\n
Its cellular unit PT Telekomunikasi Selular has a total of
\n18.5 million subscribers this month, up from 16 million at the
\nend of last year.<\/p>\n
\"Telkom should post good operating profit this year because of
\nrising numbers of subscribers in the cellular business,\" Katarina
\nSetiawan, an analyst at Kim Eng Securities in Jakarta, said.<\/p>",
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