VIVAnews - Positive sentiment on attractive movement of banking and PT Bumi Resources Tbk (BUMI) shares boosted the composite stock price index in the Indonesia Stock Exchange, resulted in high index at closing trade. The index increased by 8.7 points (0.89 percent) to the level of 1,264.81.
Share trading volume reached 1.65 billion units valuing to Rp 1.11 trillion (US$91.8 million) with a frequency of 35,159 times. As many as 69 shares gained increase, 43 fell and 51 other shares remained stagnant.
BUMI shares improve by Rp 50 (6.94 percent) to Rp 770; PT Bank Central Asia Tbk increased by Rp 100 (4.35 percent) to Rp 2,400; and PT Bank Rakyat Indonesia Tbk (BBRI) was up by Rp 75 (2.07 percent) to Rp 3,700.
Capital market analyst, Willy Sanjaya, said the low inflation rate during February 2009 which reached 0.21 percent had triggered a positive sentiment in the market. Investors were likely expecting that banks' interest rate was cut.
"No other positive sentiment is in the market but the low inflation rate and the chance for interest rate to be cut," he said.
Meanwhile, the positive movement of BUMI shares also triggered an increase of the index. "The improvement of Bumi shares has stimulated other shares," he said.
In addition, he went on to say, some issuers' financial reports of the 2008 fiscal year started to be released and showed quite a positive result.
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Translated by: Bonardo Maulana Wahono
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