July 16, 2012 / 3:38 AM / 5 years ago

Indonesia - Market Factors to watch - July 16

JAKARTA, July 16 (Reuters) - Following is a list of events
in Indonesia as well as business highlights from newspapers and
factors that may influence financial markets.

    PRESS DIGEST (Reuters has not confirmed these stories) 
    CHANDRA ASRI EYES BUILDING REFINERY PLANT WORTH $8 BLN
Petrochemical firm PT Chandra Asri Petrochemical is
planning to invest up to $8 billion to develop its oil and
petrochemical refinery plant in Merak, Banten, said company
corporate relations officer Suhat Miyarso, adding the firm is
seeking a strategic partner to work on the project. (Bisnis
Indonesia p.i1 & Investor Daily p.8)
    ELECTRONIC HOME APPLIENCES SALES SEEN RISING DURING RAMADAN
    Indonesia' federation of electronics says sales during the
Ramadan period will increase 10 percent compared to last year. 
(Bisnis Indonesia p.i1)
    CARREFOUR SEES 2012 SALES TO GROW 50 PCT
PT Carrefour Indonesia, the arm of France's retail giant
Carrefour, sees sales in 2012 at approximately 30
trillion rupiah, growing double from last year's 15 trillion
rupiah, said company's head of public affairs Satria Hamid.
(Kontan p.16)
    PTPN TO BUILD SUGAR FACTORY WORTH 1.4 TRLN RPH 
State plantation firm PT Perkebunan Nusantara (PTPN) plans to
build a sugar factory worth 1.4 trillion rupiah ($148.19
million) on 6,000 hectare of land in Banyuwangi, East Java.
Construction will start in November and estimated production 
capacity is 8,000 tonnes per day, said director Soewarno, adding
the firm expects to start production in 2015. (Investor Daily
p.7)
    SEMEN GRESIK SEES H1 NET PROFIT UP 15 PCT
State-controlled cement producer, PT Semen Gresik,
estimates its net profit in the first-half rose 15 percent from
a year ago to 2.1 trillion rupiah as revenues are seen growing
between 12-15 percent to 8.5-8.7 trillion rupiah, said CEO Dwi
Soetjpto. The firm sees 2012 sales volume will reach 22.5
million tonnes, up 14 percent from last year's 19.8 million
tonnes.  (Investor Daily p.13)
    MARKET SNAPSHOT
    * Jakarta composite index rose 0.89 percent on
Friday and Southeast Asian stock markets rose on Friday amid
optimism over China's second-quarter GDP data, with stronger oil
prices lifting commodities and energy-linked counters such as
Golden Agri Resources Ltd and Bumi Resources Tbk
. 
    *  Asian shares extended their rally on Monday as fears of
an economic hard landing in China subsided, with last week's
softer growth data within expectations and Premier Wen Jiabao on
Sunday raising the prospects of more policy stimulus if
needed. 
    *  U.S. stocks shed the sour tone that plagued equities all
week on Friday, with a rally that broke a six-day losing
streak. 
    *  Malaysian crude palm oil futures ended higher on Friday
as concerns over tighter global oilseed supply came back into
play, while traders were mostly relieved that China's gross
domestic product data landed in line with forecasts. 
    *  U.S. December corn futures surged 3.3 percent on
Monday, building on strong gains from the past four weeks as
drought conditions in the U.S. Midwest hammer yields and stocks
dwindle, driving up grains prices across the board.    
    *  Oil prices rose for a third day on Friday after China
reported GDP data in line with expectations and slightly above
the government's target, soothing concerns about slowing growth
in the world's second largest economy. 
    
     
 ----------------- MARKET SNAPSHOT AT 0013 GMT -------------- 
                    INSTRUMENT   LAST       PCT CHG   NET CHG  
 S&P 500                 1356.78      1.65     22.020  
 USD/JPY                 79.18       -0.06     -0.050  
 10-YR US TSY YLD   1.491          --      0.000  
 SPOT GOLD               1588.79     -0.08     -1.240  
 US CRUDE                86.95       -0.17     -0.150  
 DOW JONES               12777.09     1.62     203.82  
 ASIA ADRS              115.28       1.29       1.47 
 ------------------------------------------------------------ 
    
    LATEST STORIES ON:
    * Indonesia stocks........ 
    * Southeast Asian stocks.. 
    * Asian stocks preview.... 
    * Asian currencies........ 
    * U.S. stocks............. 
    * Oil prices.............. 
    * Global markets.......... 
    * Malaysian crude palm oil 
    * Indonesian palm oil..... 
    * Global economy.......... 
    * Key Asian companies..... 
    * Key currencies.......... 
    * Major deals of interest. 
($1 = 9,157.5 rupiah)

($1 = 9,447.5 rupiah)

 (Reporting by Rin Hindryati, Writing by Andjarsari Paramaditha
and; Editing by Matthew Bigg)

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