Indonesia Stocks: Astra Agro, Bumi, Chandra Asri Petrochemical
Indonesia’s Jakarta Composite Index climbed 28.09 points, or 0.8 percent, to 3,731.60 as of the noon local-time break, set to increase for a fifth day. Dec. 30 was the last trading day of 2010.
Coal producers: PT Bumi Resources (BUMI IJ), Asia’s biggest exporter of power-station coal, rose 4.1 percent to 3,150 rupiah, set for the steepest increase since Dec. 2. PT Indo Tambangraya Megah (ITMG IJ), the unit of Thailand’s largest coal miner, Banpu Pcl, gained 4.4 percent to 53,000 rupiah. Power- station coal prices at Australia’s Newcastle port, an Asian benchmark, rose 3 percent to $128.50 a metric ton in the week ended Dec. 31.
Oil companies: PT Medco Energi Internasional (MEDC IJ), Indonesia’s biggest listed oil company, advanced 1.5 percent to 3,425 rupiah and PT Benakat Petroleum Energy (BIPI IJ) rose 3.9 percent to 106 rupiah. Crude oil for February delivery gained 1.7 percent to $91.38 a barrel in New York on Dec. 31, the highest year-end price since 2007. The contract was at $91.68 a barrel in after-hours trading in New York.
PT Astra Agro Lestari (AALI IJ), the nation’s largest listed plantation company, climbed 2.5 percent to 26,850 rupiah, set to advance for a fifth day. Palm oil futures climbed 1.4 percent to 3,839 ringgit ($1,252) a metric ton in Kuala Lumpur. Astra Agro plants only oil palm trees.
PT Bhakti Investama (BHIT IJ), an investment company, jumped 8 percent to 176 rupiah, on course for its biggest gain since Dec. 10. Bhakti said it sold a 12 percent stake in toll- road operator PT Citra Marga Nusaphala Persada (CMNP IJ) at 2,100 rupiah a share. That’s more than Citra Marga’s last closing price of 1,360 rupiah. Citra Marga advanced 4.4 percent to 1,420 rupiah
PT Chandra Asri Petrochemical (TPIA IJ), an Indonesian petrochemical company, rose 4.4 percent to 3,575 rupiah. Chandra Asri said it plans to build a butadiene plant in Indonesia with an annual capacity of 100,000 tons at an estimated cost of $100 million.
To contact the reporter on this story: Berni Moestafa in Jakarta at firstname.lastname@example.org
To contact the editor responsible for this story: Reinie Booysen at email@example.com
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