Indonesia - Market Factors to watch - May 29
JAKARTA, May 29 (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)
- BAYAN SEES 2012 REVENUES UP 20 PCT
Coal miner PT Bayan Resources expects 2012 revenues will reach 15.88 trillion rupiah ($1.70 billion), up 20 percent from last year's 13.23 trillion rupiah, as production is estimated to rise 24-31 percent to between 19.4 and 20.4 million tonnes, said CEO Chin Wai Fong. (Bisnis Indonesia p.m2, Investor Daily p.14 & Kontan p.4)
- BSD TO ISSUE 3 TRLN RPH BONDS IN 2 YRS
Property developer PT Bumi Serpong Damai plans to issue 3 trillion rupiah of bonds in the next two years, with the first issuance of 1.5 trillion rupiah expected in July this year, said Kokaryadi Chandra, CEO of Sinarmas Sekuritas, the company's underwriter.
Company director Hermawan Wijaya said it would use the proceeds for expansion including to buy more land, build infrastructure and develop new projects. (Investor Daily p.13)
- BNI Q1 NET PROFIT UP 23 PCT
State lender PT Bank Negara Indonesia booked a 23 percent increase in first-quarter net profits to 1.54 trillion rupiah from the same period last year, boosted by growing credit expansion, said CEO Gatot M. Suwondo. (Bisnis Indonesia p.m4 & Investor Daily p.1)
* Southeast Asian stocks were higher on Monday on a slight easing of fears over Greece after surveys showed support for pro-bailout political parties ahead of next month's elections.
* U.S. stocks ended their first positive week in four with a down day on Friday as investors were reluctant to buy going into a long weekend, with uncertainty still swirling around Europe.
* Asian shares and the euro eased on Tuesday, with a relief rally from last week's heavy selling faltering quickly as a surge in Spanish borrowing costs added to simmering worries about Europe's debt restructuring challenges.
* Oil rose above $107 per barrel on Monday as fears of a euro zone break-up receded, but Middle East oil supply worries resurfaced after minimal progress in talks over Iran's nuclear programme.
* Latin American currencies strengthened on Monday after weekend pools suggested Greece's pro-bailout parties may be able to form a government committed to keeping the country in the euro zone.
* Malaysian palm oil futures rose to a near two-week high on Monday, as investor worries about the euro zone debt crisis eased and demand showed signs of improving ahead of the Muslim fasting month of Ramadan in July.
----------------- MARKET SNAPSHOT AT 0017 GMT ---------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 1317.82 -0.22 -2.860 USD/JPY 79.61 0.19 0.150 10-YR US TSY YLD 1.7397 -- -0.007 SPOT GOLD 1571.49 -0.08 -1.290 US CRUDE 90.95 0.10 0.090 DOW JONES 12454.83 -0.60 -74.92 ASIA ADRS 111.72 -0.81 -0.91 ------------------------------------------------------------- * For an outlook of Asian stock trading, click on
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* Major deals of interest. ($1 = 9,330 rupiah) (Reporting by Rin Hindryati; Editing by Aditya Suharmoko)
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