BEI INDEX OPENS AT NEARLY 2,800 POINTS

Jakarta, March 18 (ANTARA) - The Composite Stock Price Index (IHSG) at the Indonesian Stock Exchange (BEI) on Thursday morning rose to almost 2,800 points as investors grabbed blue chip and small-cap shares following a foreign fund inflow into the market.

The BEI index went up 0.79 percent or 20,348 points to 2,777.210 points, and the LQ-45 index rose 4.630 points or 0.88 percent to 544.282 points.

The Indonesian stocks had a big chance to move upward as investors were actively buying shares at the BEI, Alfiansyah, a foreign exchange analyst of PT Sinarmas Securities, said.

The BEI index might reach the level of 3,000 points at the end of this year if there was no obstacle, he said.

"We are optimistic the BEI index would reach the level of 3,000 points, as investors, especially foreign ones, believe that the Indonesian economy will grow further and even faster than expected," he said.

Indonesia's economy, he said, would grow at a higher rate than 5.5 percent as believed so far, especially since the banking community would soon lower its credit interest rates in order to boost the country's economy.

Bimantara shares went up Rp40 to Rp440, with the number of transacted shares totaling 115.82 million worth Rp49.15 billion.

Astra Int shares increased Rp600 to Rp41,450, and Indo Tambang Mega shares rose Rp500 to Rp35,650.