Indonesia - Market Factors to watch - May 28
JAKARTA, May 28 (Reuters) - Following is a list of events in Indonesia as well as business highlights from newspapers and factors that may influence financial markets. WHAT'S HAPPENING IN INDONESIA (GMT) - Indonesia's President Susilo Bambang Yudhoyono will hold a press conference about energy policy at 1930 (1230) PRESS DIGEST (Reuters has not confirmed these stories) - LORENA UPSIZES IPO TARGET TO 500 BLN RPH Transportation firm PT Eka Sari Lorena Transport has increased its initial public offering target to 500 billion rupiah ($53.84 million) from an initial target of 225 billion rupiah, said Johanes Soetikno, director at PT Valbury Asia Securities, the company's underwriters. The firm plans selling 30 to 40 percent of its enlarged capital in an IPO scheduled for the fourth quarter of this year. (Bisnis Indonesia p.m2) - SEMEN MERAH PUTIH TO IMPORT CEMENT FROM VIETNAM New cement firm PT Semen Merah Putih will import cement from Vietnamese Chinfon Cement Corporation as Semen Merah aims to sell 1 million tonnes of cement this year to meet growing domestic demand, said CEO Aan Selamat. (Investor Daily p.8 & Kontan p.15) - LION AIR TO LAUNCH PRIVATE JET SERVICE NEXT MTH Privately-owned PT Lion Mentari Airlines, Indonesia's biggest airline by passenger volume, is ready to provide private jet services starting next month, said CEO Edward Sirait. The firm has spent $70 million to buy four Hawker 900 XP aircrafts in February to expand into the business. (Kontan p.13) - MATAHARI TO SPEND 450 BLN RPH FOR NEW OUTLETS Indonesian retailer Matahari Department Store plans to open up to 10 new outlets this year with a total investment of 450 billion rupiah, said corporate secretary Miranti Hadisusilo. The firm has opened five new outlets in the first half and it currently owns 107 outlets in 50 cities across the country. (Kontan p.13) MARKET SNAPSHOT * Most Southeast Asian markets closed a touch higher on Friday but volumes were thin as an uncertain global economic outlook and debt woes in the euro zone weighed on investors. * 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 edged up from lows on Monday as surveys showing a lead in opinion polls for Greece's pro-bailout camps helped ease risk aversion and calm fears of a disorderly exit from the euro bloc. * Brent oil edged above $107 per barrel on Monday as polls showing support for a pro-bailout government in Greece calmed fears of a euro zone exit hitting demand while the lack of progress in talks over Iran's nuclear programme spurred supply worries. * The Brazilian real on Friday rallied through the level of 2 per dollar for the first time in 10 days as the central bank stepped up its market intervention, but other Latin American currencies fell on European debt fears. * Malaysian palm oil futures edged up on Friday on rising exports ahead of the Muslim fasting month of Ramadan in July, although investors were still cautious on lingering fear over the euro zone debt crisis. ----------------- MARKET SNAPSHOT AT 0040 GMT --------------- INSTRUMENT LAST PCT CHG NET CHG S&P 500 1317.82 -0.22% -2.860 USD/JPY 79.57 -0.11% -0.090 10-YR US TSY YLD 1.7465 -- 0.000 SPOT GOLD 1575.19 0.10% 1.640 US CRUDE 91.52 0.73% 0.660 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 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 = 9,287.5 rupiah) (Reporting by Rin Hindryati; Editing by Matthew Bigg)
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