Indonesian shares close higher on Wall St rebound; miners lead |
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Wed, 28 Nov 2007 10:13
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JAKARTA (Thomson Financial) - Indonesian shares closed higher Wednesday, keeping track of gains on Wall Street overnight driven by news that Citigroup Inc will receive new capital of 7.5 billion dollars from the Abu Dhabi Investment Authority.The local market's rise was led by miners such as coal producer Bumi Resources, which ended the session with a 15.8 percent gain, and tin miner Timah, which finished 8.6 percent higher.Interest in miners was also fueled by expectations that the sector will post strong earnings this year on the back of higher commodity prices.The composite index closed up 43.94 points or 1.7 percent at 2,671.90.The LQ-45 index was up 12.65 points at 587.98.Gainers led decliners 103 to 83, with 63 stocks unchanged.Volume was 3.83 billion shares valued at 8.53 trillion rupiah.The Indonesian rupiah was trading at 9,403/9,413 to the US dollar, compared to 9,395/9,405 late Tuesday.(1 US dollar = 9,397 rupiah)roffie.kurniawan@thomson.comrk/nt-hkp/ntCOPYRIGHTCopyright 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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Indonesian shares end morning sharply higher on Wall St rebound 