Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses, and prices are as of the 4 p.m. Jakarta-time close.
The Jakarta Composite index rose 38.33 points, or 1.1 percent, to 3,480.83, gaining for a second day. The market is closed tomorrow for a public holiday.
Banking Stocks: PT Bank Central Asia (BBCA IJ), the nation’s largest bank by market value, advanced 3.5 percent to 5,850 rupiah. PT Bank Negara Indonesia (BBNI IJ), the third-biggest state-owned bank, climbed 2.3 percent to 3,300 rupiah.
Financial shares provided the biggest boost to the composite index. Banks rose on speculation Bank Indonesia will keep its benchmark interest rate at 6.5 percent on Feb. 4 after core inflation, which excludes food and energy, slowed in January from a month earlier, David Sondakh, an analyst at PT Panin Sekuritas, said.
Metal producers: PT International Nickel Indonesia (INCO IJ), the nation’s biggest producer of the metal, advanced 2.1 percent to 4,925 rupiah. PT Timah (TINS IJ), Indonesia’s largest tin producer, gained 1.8 percent to 2,875 rupiah. Nickel for three-month delivery added 2.4 percent to $27,995 a metric ton in London yesterday, the highest close since May 2008. Tin advanced for a ninth day, gaining 0.2 percent to $30,155 a ton.
PT Astra Agro Lestari (AALI IJ), Indonesia’s largest listed plantation company, rose 1.8 percent to 22,850 rupiah. Palm oil futures advanced 2.3 percent to 3,895 ringgit ($1,280) a metric ton in Kuala Lumpur. Astra Agro plants only oil palm trees.
PT Mayora Indah (MYOR IJ), a maker of biscuit and candies, gained 5.9 percent to 10,850 rupiah, the most since Dec. 2. Mayora may spend 700 billion rupiah ($78 million) to boost production capacity by 30 percent at its factories in Tangerang in Banten province, said Director Hermawan Lesmana, confirming a report today by Investor Daily Indonesia.
PT Perusahaan Gas Negara (PGAS IJ), the nation’s biggest distributor of the fuel, rose 1.2 percent to 4,150 rupiah. The company’s gas sales volume increased to a range of 821 million cubic feet a day to 825 million cubic feet a day from 792 million cubic feet a day in 2009, Wahid Sutopo, head of investor relations said.