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.