BEI INDEX STARTS HIGHER AS SMALL-CAP SHARES STRENGTHEN

Jakarta, Nov. 17 (ANTARA) - The Composite Stock Price Index (IHSG) at the Indonesian Stock Exchange (BEI) here on Tuesday got off to a strong start as investors hunted small-cap shares.

The BEI index went up 0.19 percent or 4.616 points to 2,473.291 points, and the LQ-45 index surged 1.125 points or 0.23 percent to 488.945 points.

The Indonesian stocks had a chance to reach the level of 2,500 points as the inflow of foreign funds into the domestic market triggered positive sentiment in the market, according to Krisna Dwi Setiawan, a stock broker of PT Valbury Asia Securities.

He believed that the index could move upward to the level of 2,500 points because foreign investors were very much interested in buying domestic shares.

Another factor which boosted the positive sentiment was the decision of the government to sell state debentures, which boosted the demand for the rupiah, he said.

Among top gainers at the BEI were Inco shares that surged Rp50 to Rp4,000, Indosat shares that gained Rp50 to Rp5,250, Bumi shares that added Rp50 to Rp2,600, Danamon shares that advanced Rp25 to Rp4,475 per share, Antam shares that rose Rp25 to Rp2,400 per share.

Meanwhile, the rupiah in the Jakarta interbank spot market here on Tuesday morning maintained its position at the level of p9,380-Rp9,395 per US dollar.