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Indonesia Stocks: Bank Rakyat, Ciputra Development, Semen Gresik

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Jan. 18 (Bloomberg) -- 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 rose 0.6 percent to 3,978.13, the highest close since Sept. 9.

Banks: PT Bank Mandiri (BMRI IJ), Indonesia’s biggest bank by assets, gained 2.2 percent to 6,950 rupiah and PT Bank Rakyat Indonesia (BBRI IJ), 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.

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 IJ), 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 IJ), 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.

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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