JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) ended up 0.17% at 5066 Thursday (August 7) but trade was very volatile. The index moved at range of 5043-5068.
Investors are expecting better economic prospect if the new government starts significant reform in the economy, including fuel subsidy and speeding up infrastructure development, said one fund manager in Jakarta.
Mining stocks were focus of buying. Vale Indonesia jumped 5%, Aneka Tambang surged 3.27%, and Timah gained 1.4%.
Other gainers were Bank Rakyat Indonesia (+1.65%), Bank Negara Indonesia (+1.6%), Bumi Serpong Damai (+1.91%), Adaro Energy (+1.2%), Kalbe Farma (+2.19%), and Telkom (+1.32%).
Among losers were London Sumatra (-1.17%), Bank Central Asia (-1.28%), and Matahari Putra Prima (-3.09%).
Nymex’s crude oil inched down 0.04% to US$96.88 per barrel and gold fell 0.25% to US$1,304.90 per ounce. The rupiah weakened further to Rp11,766 against the US dollar.