Indonesian Share Up Amid Big Strike

Jakarta, Oct 3 (ANTARA) - The Indonesian Stock Exchange (BEI) started trade this morning with share prices rising despite big labor strike nation wide. The Indonesian labor confederation staged a nation wide strike Wednesday demanding abolition of outsourcing system of labor recruitment. The index of the BEI rose 0.12 percent to 4,261.785 with index of 45 most liquid stocks rising 0.21 percent to 732.27 points. On the contrary other Asian markets weakened slightly on announcement by Spain not to propose bailout fund in the near future. The European Central Bank, therefore, would buy Spanish bonds from the secondary market,Samuel Sekuritas Indonesia`s analyst Sally Agustina said. Meanwhile, commodity shares especially CPO stocks trading at the BEI are predicted to fall on significant correction of the commodity price in the world market. "The CPO price fell again 8.5 percent to 2,255 Malaysian ringgit per ton," Sally said.