Indonesian stocks advance 33.42 points at midday break

JAKARTA: Indonesian stocks rose tailing the regional market which mainly gains at the midday trading break today.

The Jakarta Composite Index (JCI) advanced 33.42 points, or 0.82%, at 4,120.51. JCI moved within range of 4,082.19-4,128.53. About two shares gained for every one share that fell, whilst more than a half of the shares remained unchanged. Finance and mining companies gained the most at the first session trading.The increase in JCI was led by PT Bank Mandiri Tbk which contributed 5.39 points to the index, PT Bank Negara Indonesia Tbk 3.23 points, PT Indo Tambangraya Megah Tbk 3.03 points and PT Charoen Pokphand Indonesia Tbk 2.88 points.Shares that hampered the movement of JCI were PT Bank Danamon Indonesia Tbk with minus 1.46 points, PT Perusahaan Gas Negara Tbk with minus 0.71 point, PT XL Axiata Tbk minus 0.50 point, and PT Indofood CBP Sukses Makmur Tbk minus 0.34 point.BISNIS-27 Index, the index of 27 stocks launched by business daily newspaper dubbed Bisnis Indonesia, rose 1.05% or 3.73 points to 357.36. The index moved within range of 352.99-358.60.From regional market, Nikkei increased 0.74% to 10,124.39, Hang Seng gained 0.94% to 22,502.65, Shanghai SE rose 0.06% to 2,690.33, Kospi jumped 0.40% to 2,159.27 and Straits Times increased 0.20% to 3,177.81.The MSCI Asia Pacific Index advanced 1.16% to 887.53.Asian stocks, cited in Bloomberg, rose as forecasts for higher earnings at companies from Canon Inc. to Baidu Inc. countered concerns the deadlock on the U.S. debt ceiling could derail the global economic recoveryThe rupiah was traded up 0.13% against the US dollar at IDR8,513. (msw)