Speculative purchases buoy index

PUBLISHED : Thursday, 30 March, 2000, 12:00am
UPDATED : Thursday, 30 March, 2000, 12:00am

Indonesian shares closed slightly higher yesterday amid speculative play in Asuransi Lippo E-Net and Astra Graphia.

Other blue chips were mixed, particularly cigarette stocks, which were off their lows following the release of the government's new excise tax regime.

The Jakarta Composite Index finished 2.947 points higher at 591.679.

Advancers outnumbered decliners by 72 to 48.

A brokerage dealer said Lippo E-Net accounted for about a quarter of market volume, but much of it was on trade from Lippo group-related companies.

Speculation over the stock stemmed from reports the group was considering listing a company on the United States Nasdaq Stock Market.

Close: 591.679 (+ 2.947) Turnover: 872.44 bln rupiah Volume: 885.2 mln shares


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