MARKET DEVELOPMENT
JCI Rises as Palm Oil Lifts Agriculture Shares
JCI Rises as Palm Oil Lifts Agriculture Shares
28/12/2013 (Jakarta Globe) - Indonesian stocks advanced on Friday, led by agriculture companies as palm oil prices rose to their highest level in two weeks.
The Jakarta Composite Index added 10.15, or 0.2 percent, to 4,212.98 on Friday. For the week it gained 0.4 percent.
More than 6.8 billion shares worth Rp 9.4 trillion ($783 million) changed hands on the Indonesia Stock Exchange (IDX). Gainers beat decliners by 145 to 96. Foreign investors made up 41 percent of total trading, selling 4.61 trillion more in shares than they bought.
The JCI rose as much as 0.7 percent in intraday trading, but those gains were pared since most investors were in a wait-and-see mode amid a lack of domestic news as the end of the year approached, analysts said.
An index that tracks 20 agriculture-related stocks rose 3.2 percent, leading sectoral gain on the IDX. The palm oil price rose to a two-week high of 2,632 ringgit ($800) on Friday from 2,634 ringgit the previous day, according to data from palmoilhq.com. Sinar Mas Agro Resources & Technology, a palm oil producer, surged 16 percent to Rp 6,950. Sampoerna Agro, another palm oil plantation company, rose 3.1 percent to Rp 2,000. Shares of Astra Agro Lestari, the agricultural unit of Astra International, gained 1.2 percent to Rp 24,650.
The yield on Indonesia’s 10-year government bonds rose to 8.6219 percent on Friday, from 8.5988 percent a day earlier, according to the Indonesia Bond Pricing Agency. The rupiah slipped to 12,260 per US dollar, from 12,215 on Thursday, according to Bank Indonesia data.
The Jakarta Composite Index added 10.15, or 0.2 percent, to 4,212.98 on Friday. For the week it gained 0.4 percent.
More than 6.8 billion shares worth Rp 9.4 trillion ($783 million) changed hands on the Indonesia Stock Exchange (IDX). Gainers beat decliners by 145 to 96. Foreign investors made up 41 percent of total trading, selling 4.61 trillion more in shares than they bought.
The JCI rose as much as 0.7 percent in intraday trading, but those gains were pared since most investors were in a wait-and-see mode amid a lack of domestic news as the end of the year approached, analysts said.
An index that tracks 20 agriculture-related stocks rose 3.2 percent, leading sectoral gain on the IDX. The palm oil price rose to a two-week high of 2,632 ringgit ($800) on Friday from 2,634 ringgit the previous day, according to data from palmoilhq.com. Sinar Mas Agro Resources & Technology, a palm oil producer, surged 16 percent to Rp 6,950. Sampoerna Agro, another palm oil plantation company, rose 3.1 percent to Rp 2,000. Shares of Astra Agro Lestari, the agricultural unit of Astra International, gained 1.2 percent to Rp 24,650.
The yield on Indonesia’s 10-year government bonds rose to 8.6219 percent on Friday, from 8.5988 percent a day earlier, according to the Indonesia Bond Pricing Agency. The rupiah slipped to 12,260 per US dollar, from 12,215 on Thursday, according to Bank Indonesia data.