JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) ended higher 0.44% at 4431 Monday (Jan 20) on volatile trade. Regional markets mostly closed in red.
Investors focused buying shares of state gas distributor PT Perusahaan Gas Negara (PGN) Tbk (PGAS) as they shared doubts over Pertamina’s plan to acquire the company. PGAS was the most actively traded stock with over 23.27 million shares exchanged hands.
Media earlier reported Pertamina and Dahlan Iskan (minister of state-owned enterprises) have discussed about Pertamina’s acquisition over PGN. But PGN continue to tell public that it had never received any notification from the government as controlling shareholder.
Plantation stocks also supported the index’s gain as the benchmark April 2014 contracts of crude palm oil (CPO) recovered RM42 to RM2582 per ton Monday (January 20) after several days of corrections. March 2014 contracts also regained grounds RM26 to RM2571 per ton on Bursa Malaysia Derivatives.
BW Plantation jumped 5.26% to Rp1300 while London Sumatra surged 5.71% to Rp1665.
Other gainers were Aneka Tambang (+2.49%), Hanson International (+4.76%), Telkom (+1.12%), and Trada Maritim (+1.56%).
Among decliners were Media Nusantara Citra (-1.22%), Wijaya Karya (-1.02%), Pakuwon Jati (-3.14%), Astra International (-1.44%), Bank Rakyat Indonesia (-1.5%), and Bumi Resources (-1.46%).
Nymex’s crude oil increased 0.14% to US$94.37 per barrel and gold rose 1.08% to US$1,252.30 per ounce. The rupiah strengthened to Rp12,110 against the US Dollar.