Indonesian share prices closed 0.11 percent higher Tuesday as gains in market heavyweight Bank Mandiri offset selective profit-taking sparked by weaker regional markets, dealers said.
The Jakarta Stock Exchange composite index added 1.218 points to 1,082.278 on volume of 1.24 billion shares worth 1.14 trillion rupiah (113.3 million dollars).
Declining stocks outnumbered gainers 50 to 38, while 72 stocks were unchanged.
The rupiah was at 10,035-10,45 to the dollar, compared to Monday's 10,052-10,057.
Niaga Asset Management analyst Suhendar Asoka said investors were focused on the upcoming November inflation data due out Thursday and predicted a modest increase in the central bank's key interest rate to keep inflation in check.
Inflation for October clocked in at 8.7 percent up from September, or 17.9 percent higher year-on-year, way above expectations.
Bank Indonesia had forecast a month-on-month rise of 5.0 percent and the enormous spike prompted the central bank to immediately hike its key interest rate by 125 basis points to 12.25 percent.
Comments
Comments are closed.