Indonesian share prices edged up 0.11 percent at a record high on Monday, led by index heavyweight Astra International and a strengthening rupiah currency, dealers said.
They said the composite index recovered from morning losses led by Telkom and Gudang Garam.
The Jakarta Stock Exchange composite index rose 1.425 points at 1,262.690, breaking its previous record closing high of 1,261.283 achieved on January 11. Volume was 1.59 billion shares worth 1.19 trillion rupiah (129.42 million dollars). Advancers led decliners 54 to 50, with 64 stocks unchanged.
The rupiah was at 9,182-9,187 to the dollar, little changed from last week's closing of 9,180-9,190. Positive sentiment continued to be generated by the rupiah and "the decline in the SBI (Bank Indonesia Certificates) last week," said Samuel Sekuritas head of research Christine Salim.
She was referring to the one-month SBI rate, which eased by one basis point to 12.73 percent in last week's auction.
Salim said Astra International rose as the stronger rupiah eased its car import costs. The stock also benefited from hopes of declining interest rates, which make car purchases more affordable, she said. Astra International rose 250 rupiah to 10,450 while unit United Tractors also gained 50 to finish at 4,150.
Telecom firm Telkom dropped 200 to 6,250 while long distance operator Indosat was flat at 5,200.
Bank Mandiri rose 30 to 1,720 while rival Bank Rakyat Indonesia also closed up, adding 75 to 3,450.
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