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Index to soar above 1,700 this year: Mandiri
Aditya Suharmoko , The Jakarta Post , Jakarta | Tue, 04/21/2009 4:18 PM | Business
The Jakarta Composite Index may soar above 1,700 by the year's end led by banking stocks, if the rate of bad loans is better than market expectations, Mandiri Sekuritas says."Now the index is about 1,650. It can pass 1,700, led by banking stocks, which may happen if the rate of nonperforming loans (NPLs) decreases," Ari Pitoyo, the head of equity research, said at a press conference Tuesday.
As of April 17, the index has so far regained 20.6 percent, led by mining and agricultural stocks. Finance stocks rose 15.2 percent.
"Stocks that are considered sensitive [to the global financial crisis] have increased," he said.
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