Reuters: Hot Stocks: STOCKS NEWS INDONESIA-Index rises on better-than-expected trade deficit data

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STOCKS NEWS INDONESIA-Index rises on better-than-expected trade deficit data Sep 3rd 2012, 05:58 Mon Sep 3, 2012 1:58am EDT Jakarta Composite Index rose 0.6 percent on Monday, buoyed by better-than-expected trade deficit data in July as import growth slowed, narrowing the trade deficit to $180 million. Exports from Indonesia fell 7.27 percent in July from a year earlier, a fourth straight month of decline, according to the country's statistics bureau. But the slide was smaller than a forecast 9.2 percent drop, while import growth slowed to just 0.75 percent versus a forecast of 6.6 percent. "The number for the trade balance is not that bad, this is a good sign for the stock index, rupiah and the economy," said Jemmy Paul, an equity fund manager at Sucorinvest in Jakarta. Banking stocks gained, led by Bank Rakyat Indonesia , which rose 2.16 percent in the first trading session. "Investors should feel comfortable to enter the market again as foreign buyers have started to accumulate stocks today," Paul said. 1226 local time (0526 GMT) (Reporting by Jakarta Bureau) Link this Share this Digg this Email Reprints

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