JAKARTA STOCKS OPEN SLIGHTLY HIGHER EARLY WEDNESDAY

Jakarta, July 22 (ANTARA) - The Composite Stock Price Index (IHSG) at the Indonesian Stock Exchange (BEI) opened slightly higher early Wednesday on gains at regional bourses.

The BEI index went up 0.34 percent or 8.138 points, to 2,155.492 and the LQ-45 index surged 1.380 points or 0.33 percent to 420.830.

The stock market was still positive when it opened as investors continued to hunt for blue chip and small cap shares, Ahmad Riyadi, a stock broker of PT Millennium Danatama Sekuritas.

The purchase of blue chip and small-cap shares by investors was also triggered by the improvement of the Wall Street bourse, he said.

He believed that the stock exchange would continue to be positive toward the BEI index until the end of this week, following a report of the US Federal Reserve which said the US economy was still sound.

It was reflected with gains at the Wall Street bourse which indicated that the US economy was growing better, he said.

Therefore, the stock exchange would continue to provide added values for the Indonesian economic movement which was growing so that it prompted foreign investors to keep their money in the domestic market, he said.

"We are optimistic that foreign investors will place their funds in the domestic stock market further," he said.

United Tractor shares jumped Rp450 to Rp11,300, Indo Tambang Raya shares climbed Rp300 to Rp21,500, Bukit Asam shares rose Rp150 to Rp11,800, and P Gas shares surged Rp50 to Rp3,375.

Besides, shares of Ades, Medco, and state tin company PT Timah which rose at the average of below 50 points respectively, contributed to the gains.

Therefore, he believed that the BEI index would further strengthen this morning, because the the positive sentiment of the market from outside was still high.

"We predict that the market is still positive so that the index will again strengthen," he said.