Indonesian share prices closed 0.98 percent higher on Tuesday in a technical rebound led by banks and energy stocks after the country's top court rejected efforts to annul an oil and gas law, dealers said. The Jakarta Stock Exchange composite index closed up 9.506 points at 976.319 on volume of 1.55 billion shares worth 1.30 trillion rupiah (139.48 million dollars.) Advancers led decliners 68 to 46, while 77 stocks were unchanged. The rupiah was at 9,310-9,320 to the US dollar, compared with Monday's close of 9,310-9,315.
"Mainly banking and energy-related stocks were up," Kuo Capital Raharja analyst Edwin Sinaga said.
He said that following last week's falls banking stocks had attracted buyers again due to their strong earnings outlooks for 2005.
Bank Central Asia was up 25 rupiah at 2,875 rupiah, state-run Bank Mandiri up 100 at 1,925, while Bank Rakyat Indonesia was up 150 at 2,625.
Sentiment for energy stocks was supported by the Constitutional Court's decision to keep a law seen as supporting the sector.
Gas distributor Perusahaan Gas Negara also benefited from the government's plan to raise fuel prices next year, Sinaga said, adding that the move should increase the use of gas as a substitute.
Perusahaan Gas Negara was up 100 at 1,850 rupiah.
Among other oil and gas firms, Medco was up 75 at 2,025 rupiah and Energi Mega Persada up 25 at 600.
Index heavyweight Telkom remained weak, undergoing a correction following recent sharp gains. Telkom was down 25 rupiah at 4,900, while long-distance operator Indosat was down 50 at 5,500.
Cigarette manufacturer Gudang Garam was up 100 at 13,100 rupiah, while rival Sampoerna was down 50 at 6,500.
Car distributor Astra International was up 50 at 9,550 rupiah.
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