Indonesian share prices closed 0.90 percent higher for a record finish Wednesday on the back of expectations of generous dividend payments by index heavyweight Telkom, dealers said.
The Jakarta Stock Exchange composite index rose 12.267 points to 1,372.394, breaking its previous record close of 1,363.298 set last Friday. Volume was 1.66 billion shares valued at 1.92 trillion rupiah (213.6 million dollars). Advancers led decliners 68 to 57, with 79 stocks unchanged.
"Telkom has lots of cash, which means it can buy back shares or pay a greater dividend," said Indo Premier Securities analyst Suherman Santikno.
He said Telkom should now have completed its investments in upgrading its telephone and cellular networks, leaving it with plenty of idle funds.
Comments
Comments are closed.