IDX adds 1.1%

IDX composite index gained 1.1% today, thanks to last minutes rally. Coal stocks gained significantly. 

Regional sentiment also helped IDX, led by Shanghai's 1.9% gain. But it's coal that gained the most. Bumi Resources increased 3.7%, while Bukit Asam surged 4.5% on reports that its net profit would double in the first half 2009. Their peers in the region also continued the rally on higher coal prices. China Coal, for example, gained 4%. Shenhua increased 3.9%, Adaro +3.3%, while Rio Tinto gained 3.8% in Australia.

Telkom increased 2.9% as CIMB upgrades the outlook on the sector. Unilever is among the best performer with 10.6% gain today, a confirmation of its strong fundamental performance. Plantations closed mixed with IOI Corp and IJM lost ground in Kuala Lumpur, while Indofood Agri Resources surged almost 6% in Singapore. Plantations listed at IDX also ended mixed with London Sumatra, SMART, and Bakrie Sumatra gained over 1%, but Gozco and Tunas Baru lost 2.4% and 1.6% respectively.

Banking stocks ended mainly lower, led by Permata (-1.7%), Mandiri (-1.4%) and Danamon (-1%), while BNI and CIMB Niaga gained 1.1% and 1.5% respectively. (th/ya)

READ MORE!!!