PT Holcim Indonesia was sharply higher in mid morning trade, supported by laggard buying with the stock seen to have fallen behind gains recorded by many other stocks, including cement firms, recently, dealers said.
At 11.08 am, Holcim was up 20 rupiah, or 3.03 per cent, at 680.
"The stock’s price has lagged gains seen in other cement stocks recently, as well as the broad market run-up," Lanang Trihardian, an analyst with PT Erdikha Elit, said.
He added that the interest in Holcim and other cement companies is based on expectations the sector will benefit from a pickup in construction next year, following the sharp pullback in domestic interest rates.
