Indonesian Stock Movers: Gas Negara, Hexindo Adiperkasa, Vale

Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses and prices are as of the close in Jakarta.

The Jakarta Composite Index (JCI) rose 1.8 percent to 3,955.58. The gauge has fallen 4 percent since the end of March, the first quarterly drop since the three months ended Sept. 30. The index has gained 3.5 percent this year.

PT Perusahaan Gas Negara (PGAS) gained 3.7 percent to 3,525 rupiah, the highest close since June 20. The nation’s biggest distributor of the fuel has been given permission to raise gas prices by 50 percent for industrial customers, Energy & Mineral Resources Minister Jero Wacik said. Gas Negara initially planned to raise prices by 55 percent, he said.

PT Hexindo Adiperkasa (HEXA) increased 5.2 percent to 9,050 rupiah, the highest close since May 25. The heavy- equipment distributor’s net income for the year ending March 31 rose 68 percent to $72 million, it said in a statement published in Investor Daily.

PT Vale Indonesia (INCO) , the nation’s largest nickel producer, jumped 7 percent to 2,675 rupiah, the biggest jump since Oct. 28. Nickel futures climbed as much as 2.3 percent to $16,583 a metric ton in London today, heading for the first gain in five days.

To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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