JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) gained 0.6% at 4951 this morning with market’s sentiment boosted by expectation of a shorter period of political uncertainty.
Investors focus buying shares of coal miner PT Bumi Resources Tbk (BUMI), boosting the stock by 7.3%. BUMI booked net profit of US$349 million in the first quarter of this year, against net loss of US$62.91 million in the same period of last year. This, however, was attributable to US$747 million gain in divestment of 10% shares in Kaltim Prima Coal (KPC) as part of debt restructuring with China Investment Corporation (CIC).
While Astra International gained 1%, Bank Central Asia rose 1.34%, Bank Rakyat Indonesia increased 1%, Timah hiked 2%, Waskita Karya lifted 1.29%, and Wijaya Karya climbed 1.28%.
Nymex’s crude oil increased 0.2% to US$101.92 per barrel in Asian trading while gold inched down 0.07% to US$1,293.90 per ounce.