Tuesday, July 21, 2009

Stocks open higher

IDX Composite index opened higher by 1.2% this morning on optimism that Friday bombings that killed nine people and injured 53 people will not affect Indonesia's long-term prospects.
Indonesia Stock Exchange (IDX) closed on Monday for holiday. Last Friday, the composite index declined 0.5% after substantial drop in morning session to respond the bombings.
Regional and global factors also contributed to the recovery. Wall Street closed higher by 1.2% on Monday to reach 8848. Other markets in the region are mainly in positive territory this morning with Strait Times and All Ordinaries are the only exceptions. Commodities recovered in the past few days to tracking the movement of crude oil prices. Brent closed at US$66 per barrel on Monday, while in New York Mercantile Exchange the crude edged up to US$65 per barrel.

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