Share prices gain ground

Share prices gain ground

JAKARTA (JP): The Jakarta stock market gained ground yesterday
as the JSX composite index rose 4.82 points to 652.05.

Turnover was worth Rp 444.14 billion (US$185.05 million) as
224,83 million shares were traded.

An ABN AMRO Indonesia dealer said the market rose on local
speculative buying on second and third line stocks. Foreign
buyers picked up mostly bluechip stocks.

Dongsuh Kolibindo Securities' analyst, Tony Visiyanto, said
overnight rises in New York set a positive tone for Asian
markets.

Orderly and peaceful general election campaigning has helped
ease earlier market fears, he said.

"The political atmosphere during the campaign has not been as
heated as investors predicted," he said.

"With possible small, isolated riots during the campaign
activities, the JSX composite index could go down to as low as
640".

Another analyst said the market would fluctuate between 640
and 650 until the May 29 election.

Among the market leaders PT Telkom rose Rp 50 to Rp 3,525,
Gudang Garam was up Rp 100 at Rp 10,200, while HM Sampoerna added
Rp 100 to Rp 9,750

Among the second line stocks to rise were the newly listed
Putra Surya Multidana which surged Rp 125 to Rp 2,750, Elang
Realty by Rp 225 to Rp 1,650 and Berlian Laju Tanker by Rp 375 to
Rp 2,250. (09)