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Shares of firms that rise after election

Thursday, 20 April 2017 | Barratut Taqiyyah Rafie

JAKARTA. Shares of Sandiaga Salahuddin Uno's PT Adaro Energy and PT Saratoga Investama Sedaya as well as Hary Tanoesoedibjo's PT Media Nusantara Citra (MNC) were among the top gainers on Thursday morning.

Saratoga shares rose by 6.39 percent to Rp 3,830 (29 US cents), while Adaro’s price increased by 1.63 percent to Rp 1,865 per share. Meanwhile, MNC shares increased by 1.16 percent to Rp 1,740. Another company controlled by Hary Tanoe, PT Global Mediacom, recorded a 0.98 percent gain.

Thursday’s trading session at the Indonesia Stock Exchange comes a day after the Jakarta gubernatorial election, with quick counts indicating that Anies Rasyid Baswedan and Sandiaga beat the incumbents, Basuki "Ahok" Tjahaja Purmana and Djarot Saiful Hidayat.

The winning pair of Anies-Sandiaga is backed by the Gerindra Party and Hary Tanoesoedibjo's United Indonesia Party (Perindo).

The Jakarta Composite Index (JCI) itself dropped 0.1 percent to 5,600.83 points in the first trading session, after trading between 5,600.14 and 5,619.36.

Trade was dominated by domestic investors, who conducted Rp 3.6 trillion in sell transactions and Rp 2.5 trillion in buy transactions. Meanwhile, there were Rp 2.9 trillion in buy transactions by foreign investors and Rp 1.8 trillion in sell transactions. (Anton Hermansyah)

Source : The Jakarta Post

Reporter: Barratut Taqiyyah Rafie