JAKARTA (JP): Share trading on the Jakarta Stock Exchange (JSX), which recorded an increase by over 10 points on Monday, continued strengthening on Tuesday, propping up the broad-based Composite Index to 501.99 on Tuesday from 498.36 on Monday.

The stock market was closed yesterday due to a national holiday in commemoration of the Buddhist Day of Enlightenment, Waisak.

A securities analyst said that the market was greatly encouraged at news of the planned introduction of a new ruling on a credit rating agency, which will soon oblige issuers of commercial papers and bonds to be assessed by the newly-set up PT Pemeringkat Efek Indonesia (Pefindo).

The narrow-based GTDBS-50 Index also strengthened to close to at 119.85 up from 117.98.

Trading volume rose to 31.98 million shares worth Rp 149.56 billion (US$69.47 million) on Tuesday from 29.16 million shares valued at Rp 137.19 billion on Monday.

Tuesday's best performers were Astra Int'l Inc. (+Rp 875), Bank Bali (+Rp 300), Bank Niaga (+Rp 500), Indocement Tunggal Prakarsa (+Rp 600), Kalbe Farma (+Rp 400), Lion Mesh P. (+Rp 400), Lippo Pacific Finance (+Rp 250), Ometraco Finance (+Rp 250), Panca Wiratama Sakti (+Rp 250), Semen Cibinong (+Rp 450) and Summarecon Agung (+Rp 200).

Top losers were Bank Tiara Asia (-Rp 300), Citra Tubindo (-Rp 800), Duta Anggada Realty (-Rp 225), HM Sampoerna (-Rp 350), Indovest Bank (-Rp 200), Kabel Metal Indonesia (-Rp 3,150), Lippo Securities (-Rp 300), Mayatexdian (-Rp 2,600) and Unilever Indonesia (-Rp 400).

A total of 18.98 million shares changed hands Tuesday at Rp 86.63 billion on the regular board, 9.81 million shares at Rp 43.76 billion on the crossing board and 3.17 million shares at Rp 19.16 billion on the foreign board.

The block sale, odd lot and cash trading boards recorded no transactions on Tuesday. (fhp)