February 20, 2008
Indonesian shares higher in early trade, tracking regional markets
Posted by balisouvenirs under Uncategorized | Tags: art, bali, export, Handicraft, oleh-oleh, palm oil, Souvenirs |Jakarta (ANTARA News) - Indonesian shares were higher in early trade Tuesday, driven by palm oil stocks and tracking gains in other Asian markets.
“We basically look for leads from other markets, especially Hong Kong, today. Normally, some traders would use a moment like this to quickly lock in profit,” said Paulus Thomas, a senior dealer at Batavia Prosperindo.
After a strong opening, the main index is nearing its resistance level simply because investors are not so optimistic about the market’s longer-term outlook, he told Thomson Financial.