Indonesia Stocks: Astra International, Elang, London Sumatra
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 (JCI) advanced 13.14 points, or 0.3 percent, to 3,872.95, a record close. The measure gained 1.1 percent in the holiday-shortened week.
Palm oil producers: PT Bakrie Sumatera Plantations (UNSP IJ) rose 2.1 percent to 490 rupiah, the biggest increase since May 4. PT Perusahaan Perkebunan London Sumatra Indonesia (LSIP IJ), the nation’s second-largest listed plantation company, climbed 1.1 percent to 2,400 rupiah. Palm oil futures gained as much as 1.4 percent to 3,406 ringgit ($1,130) a metric ton in Kuala Lumpur, climbing for a fifth-straight day.
PT Astra International (ASII IJ), the nation’s biggest automotive retailer, advanced 1.5 percent to 62,000 rupiah, the highest close since at least August 1991. The shares gained amid speculation its output of Toyota Motor Corp. and Daihatsu Motor Co. vehicles will resume to normal next month following a supply disruption caused by the March earthquake in Japan, according to Hariyanto Wijaya, an analyst at PT Mandiri Sekuritas. Arief Istanto, a spokesman at Astra, couldn’t be reached when called at his office in Jakarta.
PT Elang Mahkota Teknologi (EMTK IJ), a television company, rose 4.6 percent to 1,580 rupiah, the steepest increase since April 29. Elang said it offered to buy as many as 1.47 billion shares of PT Indosiar Karya Media (IDKM IJ) from the public for 950 rupiah a share through a tender offer. Indosiar, a multimedia services company, climbed 1.1 percent to 930 rupiah.
To contact the reporter on this story: Berni Moestafa in Jakarta at email@example.com
To contact the editor responsible for this story: Darren Boey at firstname.lastname@example.org