Indonesian share prices edged up 0.05 percent on Wednesday to another record finish above 1,000 points as blue chip Telkom's gains in late trade offset profit-taking elsewhere, dealers said. They said investors continued to focus on what they saw as the country's improving economic fundamentals despite the death and destruction caused by Sunday's earthquake and tidal waves in northern Sumatra.
The Jakarta Stock Exchange composite index closed up 0.511 points at 1,004.430, on volume of 1.74 billion shares worth 851.09 billion rupiah (91.56 million dollars.) But decliners led advancers 76 to 43, while 92 stocks were unchanged.
The rupiah was at 9,335/9,340 to the dollar compared to Tuesday's close of 9,320/9,330.
"There is year-end window-dressing activity in Telkom every year," said Meridian Capital Indonesia analyst Muhammad Habdi.
He said profit-taking erased most of the early gains Wednesday which saw the composite index hitting an intra-day high of 1,007.495.
Investors showed little reaction to Sunday's earthquake, which has devastated much of Aceh and North Sumatra's coastlines, he said. More than 32,000 people have died in Indonesia from the disaster, with Vice President Jusuf Kalla saying the death toll could reach as high as 40,000.
But the quake's impact on the economy was likely to be limited, analysts said, noting Finance Minister Jusuf Anwar's comments that economic growth next year should remain unaffected.
Telkom closed up 50 rupiah at 4,900 rupiah while sister company Indosat was down 50 rupiah at 5,800 rupiah.
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