The Jakarta Composite index rose 0.6 percent to 3,978.13, the highest close since Sept. 9.
Banks: PT Bank Mandiri (BMRI) , Indonesia’s biggest bank by assets, gained 2.2 percent to 6,950 rupiah and PT Bank Rakyat Indonesia (BBRI) , the second largest by market value, rose 1.4 percent to 7,050 rupiah. Financial shares provided the biggest boost to the Jakarta Composite Index. (JCI)
Moody’s Investors Service upgraded Indonesia’s sovereign debt to investment grade for the first time since the Asian financial crisis. The move will help increase investments into the country, Difi Johansyah, a spokesman at the nation’s central bank, said.
PT Ciputra Development (CTRA) , a property developer, climbed 7.3 percent to 590 rupiah, the most since Dec. 13. The company’s 2011 property sales doubled from a year earlier to 3.6 trillion rupiah ($393 million), Investor Daily Indonesia reported, citing a report by Nomura Securities Co. Ciputra Corporate Secretary Tulus Santoso Brotosiswojo couldn’t be reached when called at his office.
PT Semen Gresik (SMGR) , Indonesia’s largest cement maker, added 4.2 percent to 12,350 rupiah, the highest close since at least August 1991. Semen Gresik may seek a $280 million to $540 million loan to help fund the building of cement plants on Java and Sumatra islands this year, Bisnis Indonesia reported, citing Ahyanizzaman, finance director at the company. Ahyanizzaman couldn’t be reached when called at his office.
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