May 23 (Bloomberg) -- Shares of the following companies may have unusual moves in Indonesian trading. Stock symbols are in parentheses, and share prices are as of the previous close.
The Jakarta Composite index rose 2.1 percent to 4,021.10.
Rubber producers: Supplies of rubber are set to exceed demand in the second half, reversing a shortage and pressuring global prices as growth slows in Europe and China, the biggest consumer. Output may top demand by 400,000 metric tons in the six months to December after a seasonal deficit of 150,000 tons in the first half, said Chris Pardey, chief executive officer of RCMA Commodities Asia, a Singapore-based trading company.
PT Perusahaan Perkebunan London Sumatra Indonesia (LSIP IJ), the nation’s third-biggest listed plantation company by market value, gained 1 percent to 2,450 rupiah and PT Bakrie Sumatera Plantations (UNSP IJ) rose 3.9 percent to 270 rupiah.
PT Perusahaan Gas Negara (PGAS IJ): Indonesia’s biggest gas distributor will proceed with a decision to increase the selling price of the fuel to compensate for higher natural gas prices, President Director Hendi Prio Santoso said today. The company also plans to pay a cash dividend of 123.75 rupiah a share, it said in a statement. Gas Negara slid 0.7 percent to 3,725 rupiah.
PT Timah (TINS IJ): Tin futures rose 2.4 percent to $19,705 a metric ton in London yesterday, the steepest increase since March 13. Timah advanced 2.1 percent to 1,490 rupiah.
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