PT Gudang Garam, Indonesia’s second-biggest cigarette maker, has jumped 7.8 percent in early trade.
Indonesia’s Jakarta Composite Index rose 23.62 points, or 0.8 percent, to 2,836.51 as of 9:57 a.m. local time.
PT Gudang Garam, Indonesia’s second-biggest cigarette maker, jumped 7.8 percent to Rp 30,600, on course for its steepest increase since Nov. 2. Gudang Garam is among the companies that will be added to the MSCI Global Standard Indices as of the close of May 26, MSCI Inc. said.
PT Indocement Tunggal Prakarsa, the Indonesian cement maker, added 2 percent to Rp 15,650. Indocement plans to spend $100 million this year to build new mills to increase capacity, finance director Christian Kartawijaya said.
PT Bakrie and Brothers, the Indonesian company with interests in telecommunication, plantation, infrastructure, rose 1.4 percent to Rp 71 rupiah after the MSCI Inc. said the stock is among those that will be added to its global benchmark indices for small caps.
PT Gajah Tunggal, an Indonesian tire manufacturer which will also be added to the index, gained 2.3 percent to Rp 880 rupiah.
The rupiah, meanwhile, retreated for a second day as investors shunned emerging-market assets on concern belt-tightening by European governments will stall a global economic recovery.
The withdrawal of economic-support measures in Europe may jeopardize growth, the International Monetary Fund said on Tuesday, a day after the region’s finance ministers agreed on a $1 trillion rescue package for indebted nations that includes stepped-up budget-deficit cuts.
The rupiah was 0.1 percent weaker at 9,118 per dollar as of 10:15 a.m. in Jakarta, after sliding 0.3 percent on Tuesday, according to data compiled by Bloomberg. The currency has strengthened 3 percent this year.
Indonesia’s Jakarta Composite Index rose 23.62 points, or 0.8 percent, to 2,836.51 as of 9:57 a.m. local time.
PT Gudang Garam, Indonesia’s second-biggest cigarette maker, jumped 7.8 percent to Rp 30,600, on course for its steepest increase since Nov. 2. Gudang Garam is among the companies that will be added to the MSCI Global Standard Indices as of the close of May 26, MSCI Inc. said.
PT Indocement Tunggal Prakarsa, the Indonesian cement maker, added 2 percent to Rp 15,650. Indocement plans to spend $100 million this year to build new mills to increase capacity, finance director Christian Kartawijaya said.
PT Bakrie and Brothers, the Indonesian company with interests in telecommunication, plantation, infrastructure, rose 1.4 percent to Rp 71 rupiah after the MSCI Inc. said the stock is among those that will be added to its global benchmark indices for small caps.
PT Gajah Tunggal, an Indonesian tire manufacturer which will also be added to the index, gained 2.3 percent to Rp 880 rupiah.
The rupiah, meanwhile, retreated for a second day as investors shunned emerging-market assets on concern belt-tightening by European governments will stall a global economic recovery.
The withdrawal of economic-support measures in Europe may jeopardize growth, the International Monetary Fund said on Tuesday, a day after the region’s finance ministers agreed on a $1 trillion rescue package for indebted nations that includes stepped-up budget-deficit cuts.
The rupiah was 0.1 percent weaker at 9,118 per dollar as of 10:15 a.m. in Jakarta, after sliding 0.3 percent on Tuesday, according to data compiled by Bloomberg. The currency has strengthened 3 percent this year.
