Jakarta stocks extended their rallies on Friday to end at a fresh record high on foreign buying buoyed by optimism over the country's economic and corporate outlook. But dealers cautioned of profit taking to come after shares broke record highs for four straight days, sending the index up 35 percent so far this year and making it one of the best performers in the region.
The composite index rose 0.96 percent on Friday to close at 934.03 points in active turnover estimated at 1.4 trillion rupiah ($156 million). Gainers led losers 77 to 46 while 77 issues were unchanged.
The Jakarta bourse will close all of next week for a Muslim holiday. It will re-open on November 22.
Dealers said there were market rumours global stock index compiler Morgan Stanley Capital International (MSCI) may increase the weighting of the Indonesian market or add more companies under its indices.
Inclusions or increases in the MSCI indices usually prompt buying as fund managers look to keep in line with the widely followed benchmarks. MSCI is set to announce the result of a quarterly review for its indices on November 16.
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