[Kabar-indonesia] Indonesia Shares End 1.3% Higher; Rupiah Gains to 9,158 [+Regional Shares]
JoyoNews at aol.com
JoyoNews at aol.com
Mon Jul 3 09:33:56 MDT 2006
4 reports:
- Indonesia Shares End Up As
Banks Rise On Rate Cut Hopes
- Indonesia Rupiah Ends Up;
Capital Inflows To Capital Mkt
- Jakarta Closing Stock Prices
- Most Asian markets rise, with Japan and
Hong Kong gaining in consecutive sessions
Indonesia Shares End Up As Banks Rise On Rate Cut Hopes
JAKARTA, July 3 (Dow Jones)--Indonesian shares ended higher Monday on
the back of sharp gains in banks, powered by investor expectations of
a cut in the central bank's benchmark interest rate this week, traders
said. The Jakarta Stock Exchange Composite index ended up 17.492
points, or 1.3%, at 1327.755. The main index rose 2.8% Friday on Wall
Street gains and the prospect of a pause in U.S. Federal Reserve
interest rate increases.
Gainers led decliners 72 to 39 with 62 stocks unchanged. Volume was
1.1 million shares valued at IDR1.5 trillion compared with 1.8 million
shares valued at IDR1.86 trillion Friday.
Heavyweight blue-chip Bank Mandiri rose 1.7% to IDR1,750. Bank Rakyat
Indonesia rose 5.5% to IDR4,325 while Bank Central Asia increased 4.3%
to IDR4,275.
"The market story today was all about bank sector gains because the
lower inflation (in June) made people think there's room for the
central bank to cut rates," a trader at a foreign bank said. A rate
cut would boost lending-related revenue for listed banks.
Traders said market participants expect a 25 basis point to 50 basis
point cut in the Bank Indonesia benchmark one-month rate, which
currently stands at 12.50%, due to relatively benign on-year inflation
data for June issued Monday. Bank Indonesia's Board of Governors will
decide on a possible rate move at a routine monthly policy meeting
Thursday.
The prospect of declining interest rates also boosted the shares of
automobile manufacturer Astra International on the expectation that
lower rates would help power an increase in credit-financed vehicle
sales.
Astra International ended up 6.7% at IDR10,400.
Traders said Bellwether Telekomunikasi Indonesia defied the bourse's
upward momentum due to an overnight fall in the company's American
Depository Receipts. Telkom closed down 0.7% at IDR7,300.
Dealers said they expect shares to trade flat to slightly higher
Tuesday in "choppy trading."
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Indonesia Rupiah Ends Up; Capital Inflows To Capital Mkt
JAKARTA, July 3 (Dow Jones)--The Indonesian rupiah closed higher
Monday on capital inflows after the U.S. Federal Reserve signalled the
end of rate hike cycle late last month, dealers said.
The dollar closed at IDR9,158, down from its close Friday at IDR9,263.
'Foreign banks mostly sold the dollar, likely on behalf of foreign
investors buying Indonesian bonds and stocks, but it was uncertain how
big the capital inflows were,' a dealer with a foreign bank said.
Indonesian stocks rose 1.34% Monday as foreign investors bought
Indonesian stocks. Dealers added that falling inflation in June to
15.53% on year from 15.60% in May brought hope of a rate cut Thursday
when Bank Indonesia will meet to decide on its key rate, helping
sentiment on the stocks.
Several economists suggested that the central bank may cut the rate by
50 basis points to 12%.
But, some dealers said it remains to be seen if the bank will cut the
rate as sentiment toward the rupiah remains fragile.
'We expect Bank Indonesia to stay neutral on the rate for this month,
a dealer with a European bank said. 'We are worried that a rate cut
will trigger capital outflows.'
The market welcomed news that Indonesia's trade surplus rose to $3.28
billion in May from $2.85 billion in April, beating the market
forecast of $2.93 billion. The trade surplus was among the highest in
recent years as exports rose to a record high of $8.34 billion.
The surplus brought optimism that Indonesia's foreign exchange
reserves will rise again after the government took nearly $4 billion
in June to pay half of its debt to the International Monetary Fund.
Dealers expect the dollar to trade between IDR9,100 and IDR9,200
Tuesday, adding that many companies will likely line up bids to buy
the greenback below IDR9,150.
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Dow Jones Newswire
July 3, 2006
Jakarta Closing Stock Prices
Prices in rupiah
Close Prior Change
% Change
Aneka Tambang 4700 4625 +75 +1.62
Astra Agro Lestari 6500 6500 Unch Unch
Astra International 10400 9750 +650
+6.67
Bank Negara Indonesia 1140 1130 +10 +0.88
Bank Permata 680 670 +10
+1.49
Berlian Laju Tanker 1770 1730 +40 +2.31
Cahaya Kalbar 500 Not Traded
Gudang Garam 9350 9500 -150 -1.58
HM Sampoerna 7500 7800 -300 -3.85
Hero Supermarket 6000 6000 Unch Unch
Indah Kiat Pulp & Paper 910 880 +30 +3.41
Indocement 4300 4200 +100
+2.38
Indofood Sukses Makmur 890 880 +10 +1.14
Indonesian Satellite 4300 4275 +2
+0.58
Indorama 415 425 -10
-2.35
Lippo Bank 910 920 -10
-1.09
Polysindo Eka Perkasa 45 Not Traded
Ramayana Lestari Sentosa 770 750 +20 +2.67
Semen Gresik 23500 23800 -300 -1.26
Smart Corp 2850 2825 +25
+0.88
Surya Dumai 360 Not Traded
TelekomIndo 7300 7350 -50
-0.68
Timah 1770 1740 +30
+1.72
Tjiwi Kimia 2400 2325 +75
+3.23
Source: Reuters Group PLC
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Most Asian markets rise, with Japan and Hong Kong gaining in
consecutive sessions
HONG KONG, July 3 (AP) - Most Asian markets rose on Monday as optimism
about upcoming earnings and U.S. interest rates helped boost shares in
Japan and Hong Kong.
Stocks in Tokyo advanced for a third straight session after a
quarterly survey by the Bank of Japan showed that companies were more
bullish about the future. The benchmark Nikkei 225 index climbed 66.44
points, or 0.43 percent, to finish at 15,571.62.
The central bank's "tankan" survey showed that the closely watched
sentiment index for large manufacturers rose in the second quarter to
21 from 20 in the previous quarter. A positive number means optimistic
companies outnumbered pessimistic ones.
The survey, which polls 10,000 companies, also showed that companies
plan to boost capital spending.
Gainers included banking, nonferrous metal and trading company stocks.
They included Mizuho Financial Group Inc., which rose 1.75 percent,
and Sumitomo Metal Mining Co., which posted a 5.36 percent gain. Major
trading company Mitsubishi Corp. climbed 1.31 percent.
In currencies, the dollar was trading at 114.56 yen on the Tokyo
foreign exchange market late Monday, up 0.18 yen from late Friday in
New York. The euro fell to US$1.2776, from $1.2787.
Hong Kong shares rose for a second session on expectations the U.S.
interest rate cycle will peak soon. The blue-chip Hang Seng Index rose
59.04 points, or 0.4 percent, to 16,326.66.
Hong Kong rates tend to follow U.S. rates as the local currency is
pegged to the U.S. dollar.
Property stocks were mixed. New World Development rose 1.2 percent,
Hang Lung Properties was up 1.1 percent, while Sun Hung Kai Properties
was off 0.1 percent.
Elsewhere:
BANGKOK: Thai shares ended 0.9 percent higher, led by a continued rise
in energy blue chips amid the uptrend in global oil prices. The Stock
Exchange of Thailand closed up 5.85 points at 683.98, after trading in
a range between 674.51 and 684.34.
BOMBAY: Indian shares ended higher on sustained fund buying in
technology stocks and blue chips like Oil & Natural Gas Corp. The
Bombay Stock Exchange's 30-stock Sensitive Index, or Sensex, closed up
86.01 points, or 0.8 percent at 10695.26. On the rival National Stock
Exchange, the 50-stock S&P CNX Nifty ended up 22.75 points, or 0.7
percent, at 3,150.95.
JAKARTA: Indonesian shares rose on the back of sharp gains in banks,
powered by investor expectations of a cut in the central bank's
benchmark interest rate. The Jakarta Stock Exchange Composite index
ended up 17.492 points, or 1.3 percent at 1,327.755.
KUALA LUMPUR: Malaysian shares ended higher as follow-through buying
helped lift a range of blue chips. The weighted Composite Index of 100
blue-chip stocks added 0.5 percent, or 4.45 points, closing at 919.17.
MANILA: Philippine stocks rose amid easing interest rate concerns and
renewed hopes for higher corporate earnings. The benchmark 30-company
Philippine Stock Exchange Index rose 16.05 points, or 0.7 percent, to
2,194.84,
SEOUL: South Korean shares fell, pausing after the previous two
sessions of rapid gain. The Korea Composite Stock Price Index declined
0.54 point, marginal in percentage terms, to 1,294.61.
SHANGHAI: Chinese stocks surged to a two-year high after the
government announced new rules that will allow investors to borrow
from brokerages to buy and sell shares. The benchmark Shanghai
Composite Index gained 1.5 percent to 1,697.28, its highest close
since it finished at 1,715.14 on April 13, 2004. The Shenzhen
Composite Index rose 1.6 percent to 440.13.
SINGAPORE: Shares ended flat as investors retreated to the sidelines
to await mid-year results by local companies due in coming weeks. The
benchmark Straits Times Index ended up 2.9 points, or 0.1 percent, at
2438.26 points.
SYDNEY: Australian stocks edged higher as gains in precious metals and
oil overcame a weak lead from Wall Street on the first trading day of
a new fiscal year. The benchmark S&P/ASX200 index gained 18.32 points,
or 0.36 percent, to 5,092.2 while the All Ordinaries index rose 15.9
points, or 0.32 per cent, to 5,049.9.
TAIPEI: Taiwan shares rose slightly, led by gains in property-related
companies as investors switched out of technology stocks amid an
uncertain outlook for earnings. The Weighted Price Index of the Taiwan
Stock Exchange rose 14.09 points, or 0.2 percent, to 6,718.50.
WELLINGTON: Early gains by market heavyweight Telecom pushed the New
Zealand stock market higher before it settled back some on a lack of
corporate news. The benchmark NZX-50 index rose 12.3 points, or 0.3
percent, to 3,598.15
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Joyo Indonesia News Service
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