27 Jan 1998
JAKARTA
Composite Index +22.71
SHARE prices rose yesterday, mainly on arbitrage in Telkom and gains registered by some of the market's few remaining solvent companies, dealers said.
"There is still a lot of arbitraging going on," a dealer said of Telkom's gains as traders arbitraged between the local and overseas stock markets.
The JSE Composite Index closed up 22.71 points at 473.69, with Telkom shares ending 575 rupiah up at 4,800.
Turnover was estimated at 351.9 million shares worth 627.3 billion rupiah.
The rupiah was trading at between 12,750 and 13,500 to the US dollar around the closing time, after having slid to 15,000 rupiah earlier.
The dealer said the shares of companies considered solvent were heavily traded.
They included Ramayana, which rose 400 rupiah at 4,000 rupiah, Hero which gained 125 rupiah at 1,250 rupiah and Indosat which went up 2,000 rupiah to close at 18,000 rupiah. -- AFP |
