Jakarta stocks rise to new peak

Jakarta stocks ended at an all-time high on Friday, boosted by blue chip buying partly on the positive outcome of the government's stake sale in the country's fifth-largest bank, PT Bank Danamon Tbk. Dealers said investors were bullish on the market outlook and some predicted the index would hit 900 points in the near term as stock valuations remained attractive following robust corporate nine-month earnings.
"We are bullish on the market, eyeing 900 points soon, because the macro economic indicators are good, corporate results are also good, valuation stays attractive and liquidity is ample," said Bambang Setiadi, a portfolio manager at Sinarmas Sekuritas.