BEI INDEX OPENS HIGHER EARLY FRIDAY

Jakarta, March 27 (ANTARA) - The Indonesian Composite Stock Price Index at the Indonesian Stock Exchange (BEI) got off to a strong start early Friday on automotive, telecommunication and banking industry share gains, following rally at regional bourses.

The BEI index surged 40.587 points or 2.89 percent, to 1,459.724, and the LQ index went up to 210.136, up 9.883 points or 3.53 percent.
The Indonesian stock appreciation was following rally at regional bourses over the past two days, according to Harry Kurniawan, analyst of PT Bapindo Bumi Securities, said here on Friday.
The regional stocks were boosted by a survey stating that the Asian economic growth would likely be faster than those in Europe and the United States, he said.
"We are optimistic that the global financial crisis will not last long, as we see that almost all countries have tried to foster their economy and increase the stimulus package funds," he said.
Such a favorable condition encouraged investors in the domestic market to buy blue-chip shares such as Astra International shares which rose Rp500 to Rp15,800 per share, Astra Agro Lestari shares which surged Rp500 to Rp14,000 per share, and United Tractor shares which jumped Rp400 to Rp6,800 per share.
State telecommunication company PT Telkom shares increased to Rp7,500 (up Rp500), Bank Danamon shares went up Rp150 to Rp3,150, Indosat shares added Rp125 to Rp4,725, PT International Nickel Indonesia (Inco) shares advanced Rp100 to Rp2,300, coal mining company Bukit Asam gained Rp100 to Rp6,900 and Bank BRI shares were up Rp75 to Rp4,450 per share.
Kurniawan said that if this favorable condition continued, the BEI index could return to its previous position at 1,700 points by the end of this year.
Meanwhile, the Indonesian currency traded at Rp11,500/11,515 per US dollar on early Friday, up 20 points from Rp11,520/11,535 at the market's close a day earlier.