Indonesia Stocks: Astra International, Jasa Marga, Timah, Wijaya
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) rose 157.80 points, or 4.8 percent to 3,473.94, the biggest rally since May 26, 2010.
PT Astra International (ASII IJ), Indonesia’s largest automotive retailer, jumped 6.2 percent to 60,550 rupiah, the biggest boost to the composite index. The company will pay an interim dividend of 600 rupiah a share, Astra said in a statement to the stock exchange.
PT Jasa Marga (JSMR IJ), Indonesia’s biggest toll-road operator, rose 7.9 percent to 3,775 rupiah, its steepest gain since July 28, 2010. Jasa Marga may increase the tariffs on its 11 toll roads by as much as 11 percent, Investor Daily Indonesia reported, citing Frans Sunito, president director at the company. Corporate Secretary Okke Merlina couldn’t be reached when called at her Jakarta office.
PT Timah (TINS IJ), Indonesia’s largest tin producer, advanced 6.5 percent to 1,810 rupiah, the biggest increase since March 31. The nation will halt overseas shipments of tin from Oct. 1 in a bid to support prices of the metal, said Johan Murod, director at PT Bangka Belitung Timah Sejahtera, a group of six smelters. Exports will resume if the price goes to $25,000 a metric ton, according to Murod. Tin for three-month delivery rose 4.3 percent to $21,200 a metric ton in London.
PT Wijaya Karya (WIKA IJ), a state-construction company, rose 6.5 percent to 495 rupiah. Wijaya Karya has allocated as much as 1 trillion rupiah ($112 million) to develop its three power plant projects, Investor Daily Indonesia reported, citing President Director Bintang Perbowo. Four calls to the company’s office in Jakarta weren’t answered.
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