Indonesian shares set for rebound

Indonesian share prices are set to rebound in the week ahead with investors expected to snap up selected banking, mining and telecoms stocks as they seek to meet end-of-year portfolio requirements, an analyst said. Dealers would focus on banking, mining and telecoms stocks but transactions would be short-term and speculative in nature, he said.
Pacific Duaribu Securities analyst Felix Sindunata said he was optimistic that the market would head back to the 1,100-point level by year-end, based on its recent rebound.
For the week ending November 25, the Jakarta Stock Exchange composite index shed 7.585 points or 0.72 percent to close at 1,047.400. Daily average volume totalled 974.5 million shares worth 97.24 million dollars.