Jakarta Share Prices Up

Jakarta, July 24 (ANTARA) - The Indonesian Stock Exchange (BEI) started Tuesday`s morning trade with share prices rising 0.05 percent. The BEI`s composite share price index rose 2.01 points to 4,011.80 with the index of 45 most liquid stocks (LQ45) up 0.08 percent to 682.94. Purwoko Sartono, analyst from Panin Sekuritas, attributed the increase to good expectation of financial performance of issuers in the first half of the yeart. "The index rose against declining trend in general in the regional markets," Purwoko said. He warned, however, that Spain`s revision of economic growth target from 0.2 percent to 0.5 percent contraction in 2013 could trigger a negative sentiment. He predicted the BEI`s index will fall today closing at as low as 3,970 points on accummulation of negative sentiments in Europe. He recommended buying of a number of potential gainers including Surya Semesta Internusa (SSIA), Mitra Adiperkasa (MAPI), Tower Bersama Infrastructure (TBIG), Lippo Ciarang (LPCK), Summrecon Agung (SMRA), Bank Rakyat Indonesia (BBRI), and Bank Negara Indonesia (BBNI). Meanwhile, Christine Salim , analyst from Samuel Sekuritas said Moody`s cutting Germany`s AAA rating could be a factor increasing risk of the European debt crisis. Christine said a number of commodity-based stocks such as mining and crude palm oil stocks are expected to be under pressure following price fall last night. "The commodity prices shrank significantly to follow 4 percent fall of oil prices to US$88.1 per barrel," she said. Regional markets suffering a setback included Hang Seng with index down 2.99 percent to 19,053.47 and Nikkei-225 down 0.41 percent to 8,473.84 . Straits Times, however, rose 0.57 percent to 2,999.32 points.