BEI INDEX OPENS 0.90 HIGHER EARLY FRIDAY

Jakarta, April 24 (ANTARA) - The Composite Stock Price Index (IHSG) at the Indonesian Stock Exchange (BEI) here early Friday got off to a strong start as investors again hunted for blue chip and small-cap shares after they had earlier released shares.

The BEI index opened 14.486 points or 0.90 percent higher at 1,607.216 while the LQ-45 index rose 2.761 points or 0.88 percent to 317.830 points.
Investors hunted for shares following a continuous stock price depreciation over the past few days, Ahmad Riyadi, a stock broker of PT Millennium Danatama Securities, said.
However, the share releasing actions did not last long as the Wall Street bourse in New York rebounded and political tensions in the country diminished , he said.
"We are optimistic the BEI index later in the morning will strengthen further because the shares being hunted by investors continue to advance," he said.
According to him, the national economic performance which became more solid and the foreign capital inflow following the improvement of investors' trust, would contribute to a faster national economic growth.
Moreover, the Indonesian economic growth, which had earlier been estimated at only three percent, currently increased to 4.5 percent, he said.
Besides, the large amount of funds invested by Middle East businessmen in Indonesia also led to a positive sentiment toward the Indonesian capital market to further grow, he added.
Shares that rose included Astra Agro Lestari shares which jumped Rp250 to Rp15,300 per share, Medco share which gained Rp100 to Rp2,450, and state telecommunication company Telkom shares that advanced Rp100 to Rp7,450.
United Tractor shares gained Rp100 to Rp7,200, Astra shares added Rp50 to Rp15,700, and BCA as well as BRI shares respectively rose Rp50 per share.
Meanwhile, the Indonesian currency traded at Rp10,785/10,790 per US dollar, up 85 points early Friday, from Rp10,870/10,880 per US dollar at the market's close a day earlier.