JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) ended higher 0.6% at 5144 on Friday (Dec 19), but closed off its high as profit taking hit certain stocks. The index moved at range of 5127-5162 during the day trading.
Reuters reported Asian shares also enjoyed their best day in 15 months on Friday, after Wall Street boasted its biggest two-day advance since late 2011 amid relief the Federal Reserve was in no rush to withdraw stimulus from the U.S. economy.
However, the gains came even as oil stayed under pressure, suggesting equity investors were beginning to see the positives in lower fuel costs and increased consumer spending power.
Nymex’s crude oil increased 0.1% to US$55.48 per barrel and gold rose 0.23% to US$1,197.60 per ounce. The rupiah strengthened further to Rp12,500 against the US dollar.
At Jakarta bourse, Investors focused buying in Bakrie Group stocks, mainly coal stocks, spurred by President Joko Widodo’s bailout of almost Rp800 billion liabilities of Lapindo to the mudflow victims in Sidoarjo, East Java.
Bumi Resources skyrocketed 34%, Berau Coal jumped 24.1%, and Borneo Lumbung Energi gained 18%. Energi Mega also hiked 7.14%.
Other gainers were Jababeka (+3.45%), Waskita Karya (+3.9%), Pakuwon Jati (+6.93%), and Hanson International (+5.4%).
While Timah fell 1.26%, Vale Indonesia declined 2.1%, Alam Sutera lost 2.8%, Visi Media shed 1%, Matahari Putra Prima slashed 1.4%, and Multipolar slipped 1.2%.