Tuesday, July 14, 2009

IDX rebounds 1.8%

After three consecutive days in red, IDX composite index finally closed in green on Tuesday with 1.8% gain to tracking regional and global sentiment. 
IDX is not the best today, especially in the morning session with gain of less than 1%. But investors entered the second session with more optimism. Hang Seng closed higher by 3.7%, but KOSPI inched up by 0.5% only.
Commodities lifted IDX significantly, led by coal stocks. BUMI gained 5.1%, while Adaro surged 5.5%. Others also gained in the 3-4% range, except Bukit Asam which lost 1.4% on profit taking. Their peers in the region also regained grounds with 3-4% gain on average. CNOOC is the top gainer in oil and gas with 6.4% increase, while Energi Mega Persada gained 3.3%. 
Plantation stocks also closed in green, led by Kulim's 7% gain in KL and Indofood Agri Resources' 3.9% gain in Singapore, as CPO futures in Malaysia Derivatives Exchange ended higher at RM2036 per ton. Gozco Plantation closed higher by 4.9% in Jakarta, while others increased by 2-3%. 
Most banking stocks surged, led by BII's 8.64% gain, followed by BRI with 4.6% and Danamon +4%. Telcos also in green with Telkom gained 1.3%. (th/ya




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