JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) ended higher 0.39% at 5313 on Thursday (May 21) but trade was volatile.
Profit taking turned the index into negative territory in morning trade but the buying returned in afternoon trade. The index moved at range of 5276-5335 during the day trading.
Stock market gains were capped on Thursday in much of Asia in the wake of China’s downbeat factory activity data, but shares in Shanghai focused on the potential positives from the weak reading and rallied, Reuters reported.
Investors focused buying banking stocks. Bank Central Asia gained 1.8%, Bank Rakyat Indonesia rose 2.2%, Bank Negara Indonesia jumped 3.32%, Bank Mandiri surged 3.1%, Bank Danamon climbed 1.42%, Bank Tabungan Negara hiked 3.39%.
Other gainers werte Eagle Asia Plantation (+2.36%), XL Axiata (+2.81%), Jasa Marga (+1.59%), Kalbe Farma (+1.67%), Lippo Karawaci (+1.9%), Nirvana Development (+4.25%), Multipolar (+1.39%), and Pakuwon Jati (+1.73%).
While Astra Agro dropped 5.29%, Adaro Energy fell 1.1%, AKR Corporindo declined 2.18%, Bumi Resources lost 2.2%, London Sumatra shed 2.09%, and Unilever slashed 1.15%.
Nymex’s crude oil rose 0.4% to US$59.24 per barrel and gold increased 0.12% to US$1,210.20 per ounce. The rupiah strengthened to Rp13,150 against the US dollar.