Monday, 31 August 2009

JCI Joins Regional Markets in Rally; Rupiah Gains for Third-Straight Day

Indonesian shares gained higher ground on Monday, joining markets across Asia in a broad rally on encouraging economic news from the United States and an increase in the price of crude oil. The Jakarta Composite Index posted its third-straight daily gain, rising 41.977 points, or 1.8 percent, to close at 2,375.87. Some 5.8 billion shares worth Rp 4.66 trillion ($466 million) changed hands. Gainers outnumbered losers 147 to 58, with 53 stocks closing unchanged. Agricultural and mining stocks led the way, rising 4.1 percent and 3.7 percent, respectively. Meanwhile, the rupiah rose slightly for a third day on Monday as appetite for emerging-market assets further improved on signs the financial crisis is ending, said Aris Setiawan, a currency trader at PT Bank Chinatrust Indonesia. The rupiah traded at 10,005 against the US dollar at the stock market close on Monday.
The Jakarta Business Globe, p. B, 25 Aug. 09

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