Indonesian shares close higher

Indonesian share prices closed 0.37 percent higher Wednesday, led by continued gains in Bank Central Asia (BCA) and Bank Rakyat Indonesia (BRI) after recent losses on rising interest rates, dealers said.
The Jakarta Stock Exchange composite index rose 3.753 points to 1,025.829 on volume of 554.70 million shares worth 485.31 billion rupiah (48.43 million dollars. Decliners outnumbered advancers 55 to 35 with 67 stocks unchanged.
The rupiah was at 10,015/10,020 to the dollar in late trade compared to Tuesday's level of 10,000/10,010.
"The technical rebound of yesterday (Tuesday) continued today (Wednesday) but was not supported by high market volume," said Mega Capital Indonesia analyst Dwika Sari.
The market fell in the first four days since trading resumed last Wednesday after the week-long Idul Fitri holiday.
Dealers attributed the market's decline to concerns over further interest rate hikes following the high inflation rate in October.
Bank Indonesia Wednesday kept its one-month benchmark rate unchanged at 12.25 percent after last week's hike of 125 basis points.
Sari said lower world oil prices and the relatively stable rupiah, which in morning trade rose past the 10,000 dollar mark, helped the market's rebound.
Crude oil for December delivery fell 71 cents to close at 56.98 dollars a barrel in overnight trade on the New York Mercantile Exchange - its lowest closing level since June 10.
Sari said BCA and BRI managed to sustain Tuesday's rebound as they are seen maintaining a solid performance this year.
Their strong retail markets insulate them better from the risks of bad loans amid rising interest rates, she said, unlike other banks with heavy corporate loan exposures such as Bank Mandiri.
Sari expected the stock market to trade mixed to lower this week due to persistent concerns over high inflation and interest rates.
BCA added 100 rupiah to close at 3,200, state-owned BRI gained 125 at 2,600 while Bank Mandiri dropped 70 at 1,110.
Index heavyweight Telkom declined 25 at 5,050 while sister-company Indosat extended Tuesday's rebound, rising 100 to close at 5,200.
Car dealer Astra International was unchanged at 8,450 and its heavy equipment unit United Tractors was also flat at 3,300.