RI stock index gains
RI stock index gains
Bloomberg, Jakarta
Indonesia's stock index rose for the first day in three. PT H.M. Sampoerna, the country's second- largest publicly traded cigarette maker, advanced after saying it plans to pay a special dividend.
The Jakarta Composite Index added 0.765, or 1 percent, to 812.892 at the 4 p.m. local time close. It lost 0.9 percent in the previous two sessions. Gainers led decliners 59 to 52, while 226 stocks were unchanged.
Sampoerna climbed Rp 50, or 0.8 percent, to Rp 6,050. The company plans to seek shareholders' approval at a meeting on Oct. 27 for the dividend to be paid from retained earnings, it said in a statement to the Jakarta Stock Exchange.
About 871 million shares worth Rp 435.6 billion ($47.5 million) changed hands, 37 percent less than the six-month daily average of Rp 686.3 billion.
The following stocks also rose or fell. Stock symbols are in parentheses after company names.
PT Energi Mega Persada, the smaller of Indonesia's two publicly traded oil companies, advanced on optimism higher oil prices will boost profit. The shares rose Rp 10, or 2.1 percent, to Rp 495, extending yesterday's 1 percent gain.
Crude oil for November delivery traded at $50.04 a barrel in after-hours trading on the New York Mercantile Exchange at 8:18 a.m. London time, 17 cents higher than yesterday's record closing price of $49.90.
PT Indocement Tunggal Prakarsa, the second-biggest cement maker by sales, fell Rp 25, or 1.3 percent, to Rp 1,950 on concern higher oil prices will boost costs. The cement maker said in July operating income may fall this year and next, partly due to higher fuel costs.
PT Indosiar Visual Mandiri, one of the most-watched television stations in Indonesia, gained Rp 75, or 11 percent, to Rp 750 on optimism more foreign investors will buy its parent company shares after they are listed next week. Shareholders of Indosiar Visual can swap their shares with shares of parent PT Indosiar Karya Media ahead of the listing.
"The listing of Indosiar's parent would enable foreign investors to own more of" the television station, said Pang Tek Djen, a market strategist at Sucorinvest Central Gani in Jakarta. Current regulations limit direct foreign ownership in Indonesian television station to 20 percent.