Indonesian shares higher in early trade on Wall Street rise, Q3 earnings hopes |
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Wed, 24 Oct 2007 03:46
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JAKARTA (Thomson Financial) - Indonesian shares were higher in early trade on Wednesday supported by gains on Wall Street overnight and a pullback in the oil price.New York's main futures contract, light sweet crude for delivery in December, shed 75 cents to close at 85.27 dollars a barrel on Tuesday. It hit a record 90.07 dollars on Friday.Hopes that key Indonesian companies are likely to report strong third quarter results also helped underpin market sentiment.Gains were led by big caps such as Telkom, Astra International and the miners.At 9.36 am (0236 GMT), the composite index was up 43.55 points or 1.7 percent at 2,597.35.Volume stood at 374.32 million shares valued at 674.26 billion rupiah.The LQ-45 index was up 10.44 points at 562.89.(1 US dollar = 9,136 rupiah)roffie.kurniawan@thomson.com.hkp/ngCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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