BUSINESS INFORMATION - Strengthening back (rebounds) in world oil prices

BUSINESS INFORMATION - Strengthening back (rebounds) in world oil prices have pushed Composite Stock Price Index (JCI) Indonesia Stock Exchange (BEI) closed up 21 points on Friday.

"Reboud oil prices to 73 dollars per barrel from 71 dollars previously had helped IDX index bounce back," said research analyst PT Valbury Asia Securities Krishna Dwi Setiawan, in Jakarta.

JCI Stock Exchange closed up 21.183 points or 0.90 per cent to the index position of 2.77,247 and seed stocks (LQ45) rose 4.106 points or 0.89 per cent to as low as 463.221.

According to Krishna, the rise was driven Stock Exchange index of mining sector such as Perusahaan Gas Negara which rose Rp175 to Rp3.450 position and Indo Tambangraya rose Rp150 to Rp24.100 level.

Sentiment strengthening rupiah also be driving the increase in the trading price of BEI shares this weekend.

The rupiah strengthened to 100 basis points in the level of 10,040 per U.S. dollar compared to the previous closing at Rp10.140 U.S. dollars.

These conditions make other seed stocks and increase in IDX indexes pushed them Astra International which went 300 to the price of Rp30.000, Telkom Rp50 be added Rp8.650 and Bank BRI Rp250 to strengthen Rp7.850 position.

Krishna also believe the "rebound" of oil prices would provide an index BEI hopes to reach the target of psychological 2400 level.

"Levels of 2400 will soon be achieved, especially when seen from the data that the U.S. economy has started to improve would be pushing the index IDX," he hoped.

At this weekend trade, the movement of the stock went pretty balanced, which has strengthened as much as 100, 80 stocks fell and 81 did not change the price.

Transactions that occurred many times with 75,997 shares changing hands reached 4.549 billion pieces and the value of Rp2, 744 trillion.