JAKARTA STOCKS TRADE HIGHER ON AUTOMOTIVE, CIGARETTE SHARES

Jakarta Forum - Jakarta, Jan. 28 - The Composite Stock Price Index (IHSG) at the Indonesian Stock Exchange (BEI) here on Thursday morning opened higher as investors grabbed automotive and cigarette shares.

The BEI index rose 21.550 points or 0.90 percent to 2,586.102 and the LQ-45 index went up 4.655 points or 0.93 percent to 505.343 points.

Investors tended to be active in the stock market and were not concerned over the expected rallies to be staged in front of the presidential palace, according to Ahmad Riyadi, a stock broker of PT Millenium Danathama Securities.

The automotive and cigarette share buying, as well as gains at Wall Street and regional stock markets boosted the BEI index, he said.
"We are optimistic that the BEI index will move upward further and pass the level of Rp2,700 points, if the rallies run peacefully and orderly," he said.

Among top gainers at the BEI were Indo Tambang Mega shares that rose Rp1,000 to Rp32,900, Astra Int. shares added Rp600 to Rp35,000, Bukit Asam shares advanced Rp200 to Rp16,650 and United Tractor shares climbed Rp200 to Rp16,900.

Gudang Garam shares surged Rp100 to Rp23,600, HM Soempurna shares strengthened Rp100 to Rp13,700, Telkom shares increased Rp100 to Rp9,350 and Indosat rose Rp50 to Rp5,350.

Meanwhile, the rupiah weakened against the US dollar in the interbank spot market here on Thursday morning as investors were concerned over the expected big rallies.

The Indonesian currency traded Rp9,410-Rp9,420 per US dollar, down 10 points from Rp9,400-Rp9,410 per US dollar at the market`s place a day earlier.

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