Stocks rebound, speculations return

IDX composite index increased 4.25% to 1995 today led by rebound in commodities stocks. Coal stocks jumped even though crude oil was traded below US$69 per barrel in Asia. Indika surged 17.28%, BUMI +11.45%, and Adaro +9.3%. 

Speculative stocks like Darma Henwa and Truba Alam Manunggal also jumped 14.13% and 15.9%. Other coal stocks like Bayan, Indo Tambangraya, and Bukit Asam rebounded by 7%, 3.8%, and 4.4% respectively, while their peers in the region reported lower gains. China Coal and Shenhua only increased by 3% in Hong Kong, while Straits Asia gained 2% in Singapore. World's giant BHP even lost 0.21%. Energi Mega Persada (ENRG) was also traded heavily and surged 22.2%, while companies with better fundamentals like Medco and PGN only gained 7% each.

Plantation stocks also ended significantly higher, led by Bakrie Sumatra Plantation's 9.4% gain, while Astra Agro only increased 1.7% and London Sumatra +5.5%. Investors responded positively significant rebound of CPO futures contracts in Malaysia Derivatives Exchange on Tuesday, while today the prices retreated.

Metals stocks Aneka Tambang, INCO, and Timah regained grounds with 10.8%, 11.2%, and 9.8% respectively.

Banking stocks also closed significantly higher, led by BRI (+7%), Danamon (+8.8%), and BNI (+5%). 

READ MORE!!!