>>MSCI – Two additions to MSCI Indonesia: Charoen Pokphand Indonesia (CPIN) and Kalbe Farma (KLBF). Estimated buying volume for CPIN is 43.5mn shares, for KLBF is 133mn shares.>>>
"إِنَّا مَكَّنَّا لَهُۥ فِى ٱلْأَرْضِ وَءَاتَيْنَهُ مِن كُلِّ شَىْءٍۢ سَبَبًۭا فَأَتْبَعَ سَبَبًا Sesungguhnya Kami telah memberi kekuasaan kepadanya di (muka) bumi, dan Kami telah memberikan kepadanya jalan (untuk mencapai) segala sesuatu, maka diapun menempuh suatu jalan." (QS. AL KAHFI:84-85)
>> Saham Agung Podomoro Dilepas Rp365 per Unit >>> INDY: After mkt close the major shareholders placed out a USD 200m block of stock, or about 10% of cap at 3675 (range 3600-3725) at a 5.7% discount. The placement was said to be 3X subscribed to.

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Rabu, 10 Juni 2009

GlobalCoal Asia Coal-Prices rise to 3 ½ mth high on oil, economy

JAKARTA, June 4 (Reuters) - Prices of power-station coal from Australia, a benchmark for Asia, rose to a three-and-a-half-month high of over $72 a tonne on higher oil prices and expectations that a recovery in global economy would spur demand.

Thermal coal prices in the globalCOAL Newcastle index rose $6.48 from the previous week to $72.79 a tonne, the highest since Feb. 24 when it stood at $73.38 a tonne. 'There is some direction now with the gain in oil prices. Also, there is positive sentiment about the global economy that pulling up prices,' a regional trader said.

Crude oil steadied at $66 a barrel on Thursday after hitting nearly seven-month high of $69.05 a tonne on Tuesday on expectations of an economic recovery.

Strong demand from China and India is also expected to spur recovery in global coal in the second half of this year, industry participants said at a recent industry gathering.

There were no physical trades registered on globalCOAL.

INDONESIA COAL

Chinese buyers were still scouting for Indonesia coal. One handimax of 6,300 kcal/kg air-dried basis (ADB), FOB mother vessel, has been sold to a Chinese buyer at $55 a tonne for delivery in July.

'The price was still a bit low because it was settled in April. We still see a lot of inquiries from China. Now, everybody suddenly wants to trade with China,' said an Indonesian trader.

Indonesian coal prices are likely to go up to around $60 in coming weeks in line with a recovery in global coal prices, the trader said.

About 11,000 tonnes of Indonesian sub-bituminous coal of 5,600 kcal/kg ADB were traded at $39.5 a tonne, FOB barge from East Kalimantan, but there were no details of buyers.

'Inquiries are now starting to come in, because of a rise in prices,' said another Indonesian trader.

In the domestic market, demand remained slow as power plants still have abundant supplies, of more than a month, traders said, adding power plants may be back to the market in the third quarter to secure stockpiles ahead of the rainy season.

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