Indonesian share prices rose 1.43 percent to close at a new record finish on Wednesday, on the back of buying in blue chip stocks by foreign investors, dealers said.
They said a positive outlook for Indonesia's economy due to falling interest rates and inflation had propped-up support for the market, which was also aided by strong performances on other regional bourses. The Jakarta Stock Exchange composite index closed up 24.101 points at 1,705.441. The previous record was set Monday.
Volume was 2.52 billion shares worth 2.43 trillion rupiah (265.7 million dollars). Gainers led losers 117 to 34, while 67 stocks were unchanged. The rupiah was trading at 9,133-9,135 to the dollar compared to Tuesday's close of 9,135-9,140.
Alif Sasetyo, an analyst with Samuel Securities, said an inflow of foreign liquidity on the back of the upbeat economic prospects was helping drive the market.
Among index heavyweights, Telkom rose 250 at 9,700 and long distance operator Indosat also gained 150 at 5,750. Gas firm PGN was up 200 at 11,000 and Indofood also netted 20 at 1,430. Bank Rakyat Indonesia was up 100 at 5,400 and rival Bank Mandiri also gained 25 at 2,725. Astra International was down 50 at 15,500 and cigarette maker Gudang Garam also lost 200 at 10,100.
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