More investors seek for mining shares

The increase in commodity prices and reports of higher realized production of some publicly listed mining companies have turned mineral-based shares as one of the most sought-after stocks in the local stock exchange.

Sigma Research said in its report that the improvement in the mining companies? financial performance thanks to the increase in commodity prices in the world market had incited institutional buying, pushing up the trading volume of the mining sector in the Jakarta Stock Exchange to 59.75 million shares on Tuesday.

The trading value of Antam shares reached about Rp 14.51 billion, almost a half of the total transaction of Rp 33.45 billion booked by all mining companies listed on the stock exchange.

Antam?s share price increased by 10 percent to close the day at Rp 825. The seemingly more active trading on the company?s shares were inspired by reports on the improvement in the company?s sales during the first quarter of this year. Antam's revenue rose by 17 percent during the period. (*)