BEI index rises ahead of announcement on inflation rate

Jakarta (ANTARA News) - Prior to a government announcement on the 2008 inflation rate, the Composite Stock Price Index (IHSG) at the Indonesian Stock Exchange (BEI) closed 4.44 percent higher on Monday.

The morning session`s IHSG was closed 60.170 points higher or 4.44 percent at 1,414.578, and the LQ45 index strengthened 15.728 points (5.82 percent) to 285.960.

The Central Bureau of Statistics (BPS) on Monday afternoon was expected to announce the 2008 December inflation rate which was predicted by market players to be still controllable.

PT Trimegah Securities in its daily research analysis said the BEI index`s surge had happened because of the euphoria about Wall Street`s gain of 2.9 percent which was followed by share advances in regional bourses.

Trimegah also believed that the world oil price rise (4.3 percent) also triggered the BEI index gain.

Stock movements were dominated by 87 shares that advanced, only 27r which plunged, and 34 shares that remained static.

Among shares which gained in the BEI were BUMI (Bumi Resources) shares that were up Rp20 to Rp930, Tunas Ridean which advanced Rp450 to Rp4,850, PGAS (State Gas Company) which went up Rp80 to Rp1,940, PTBA (Bukit Asam coal mining company), that surged Rp700 to Rp7,600, and ANTM (Aneka Tambang mining company) which rose Rp80 to Rp1,170.

The share transactions were recorded at a total volume of 1.411 billion shares with a total value of Rp1.026 trillion from 34,808 transactions.
source:antara.co.id