Stock index rises as BRI, BNI climb<\/p>\n
Naila Firdausi and Arijit Ghosh, Bloomberg\/Jakarta<\/p>\n
Indonesia's stock index rose, reversing earlier declines. PT Bank
\nRakyat Indonesia led gains by lenders after the yield at the
\ncentral bank bill sales remained unchanged, easing concern
\ninterest rates may increase.<\/p>\n
The Jakarta Composite Index added 2.43, or 0.2 percent, to
\n1,164.14 at the 4 p.m. close, after earlier declining as much as
\n0.3 percent. About three shares rose for every two that fell. The
\nmeasure is set for a 16 percent gain this year, its fourth
\nstraight annual advance.<\/p>\n
Bank Rakyat, the nation's fourth-largest lender, climbed Rp
\n50, or 1.7 percent, to 3,025. PT Bank Negara Indonesia, the
\nnation's third-largest lender, added Rp 40, or 3.2 percent, to Rp
\n1,300. PT Bank Central Asia, Indonesia's biggest lender by market
\nvalue, rose Rp 25, or 0.8 percent, to Rp 3,375.<\/p>\n
The yield on Indonesia's one-month central bank bills was
\n12.75 percent at auction on Wednesday, unchanged from previous
\nweekly sales, the central bank said.<\/p>\n
"We will keep interest rates unchanged through the rest of the
\nyear," Bank Indonesia Governor Burhanuddin Abdullah told
\nreporters. "We will evaluate the rate when we meet again in
\nJanuary."<\/p>\n
PT Kalbe Farma, Indonesia's biggest drugmaker by sales, added
\nRp 50, or 5.3 percent, Rp 1,000. The company has risen 8.7
\npercent since Dec. 20 after saying it completed combining
\noperations with PT Enseval and unit PT Dankos Laboratories,
\nincreasing its market capitalization by a third to about $1
\nbillion.<\/p>\n
Shares valued at Rp 405.4 billion ($41 million) traded, 57
\npercent lower than the six-month daily average of Rp 944.3
\nbillion.<\/p>\n
PT Astra Agro Lestari slid Rp 200, or 3.9 percent, to Rp
\n5,000. Palm oil for March 2006 delivery fell 3 ringgit, or 0.2
\npercent, to 1,412 ringgit a metric ton on the Malaysian
\nDerivatives Exchange.<\/p>\n
"Astra Agro is relatively expensive given the outlook on palm
\noil prices," said Prayoga Triyono, head analyst at PT Henan
\nPutihrai in Jakarta.<\/p>\n
"Also, the industry is maturing and may not grow as much it
\nhad earlier."<\/p>\n
PT Petrosea, an Indonesian unit of Australia's Clough Ltd.,
\nrose Rp 600, or 9.7 percent, to Rp 6,800 on the company's plan to
\nbuy back as much as 10 percent of its shares.<\/p>\n
PT Unilever Indonesia rose Rp 50 rupiah, or 1.2 percent, to Rp
\n4,250.<\/p>\n
The stock was raised to "buy" from "hold" by Ben Santoso, an
\nanalyst at PT Namalatu Cakrawala. Santoso expects the shares to
\nrise to Rp 5,225 in 12 months.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/stock-index-rises-as-bri-bni-climb-1447893297",
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