Share Prices Extended Gains On Monday

Jakarta, July 30 (ANTARA) - Indonesian shares extended their gains with the composite share price index of the Indonesian Stock Exchange (BEI) rising 0.48 percent to 4,104.06 points on Monday morning session. The index on 45 most liquid stocks (LQ45) increased 0.68 percent to 703.63 points. The trade closed last weekend with index rising 1.98 percent with index of LQ45 rising 0.27 percent. The trend continued on commitment announced by German and French governments to create stability in the euro zone. Meanwhile, there was speculation that the European Central Bank (ECB) planned to issue bonds in a bid to stabilize the yield of Italian and Spanish bonds. In Jakarta, analysts said automotive, cement and telecommunication and consumer stocks are vulnerable to profit taking, Samuel Sekuritas Indonesia analyst Yualdo Yudoprawiro said profit taking followed increase in share prices in the last three trading days. "The prices of the shares of the issuers in the four sectors have increased significantly prompting profit taking," Yualdo said here on Monday. The BEI index could climb further to as high as 4,125 later today, he predicted. Asian markets started trading this morning with 1 percent stronger with global positive sentiment last weekend.