Friday, August 12, 2011

Jakarta Traders to Get 30 Minutes More

By Linda Silaen and Edhi Pranasidhi

The president of the Indonesia Stock Exchange, Ito Warsito, marked the first trading day of 2011 by telling reporters that the exchange plans to extend its daily trading hours by 30 minutes at some point during the first half of the year, to deal with an expected increase in investment in local equities. The opening time would move to 9 a.m. from the current 9:30, with the closing time continuing to be 4 p.m.

The exchange’s main index, which gained 46% in 2010 — the best performance in Asia — started 2011 on the positive side, up 0.7% in midafternoon trading. Commodity-related stocks were among the leading gainers, as foreign investors bought in hopes of strong fourth-quarter earnings, traders said. Coal producers Bumi Resources and Bukit Asam were up 4.1% and 2.8%, respectively; nickel and gold miner Antam was up 1%.

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