Indonesia share prices closed 1.27 percent higher on Wednesday with gains by banks helping to lift the main index to a new record high, dealers said. The Jakarta Stock Exchange composite index finished up 25.980 points at 2,063.763, beating the previous all time closing high of 2,047.031 points set last Thursday.
Volumes were 5.23 billion shares worth 3.72 trillion rupiah (422.87 million dollars). Gainers led losers 130 to 54, while 53 stocks were unchanged. The rupiah was trading at 8,792/8,797 to the dollar against 8,800/8,810 late Tuesday.
"Some blue chips, especially banks, performed well today. But I would say that the index's gain to a record level was also attributable to many second liners," said Krishna Dwi Setiawan, an analyst with Valbury Asia Securities.
He noted that although the market will be closed for the rest of the week, the country's sound macroeconomic fundamentals meant investors were punting on the upward price trend continuing.
Bank Rakyat Indonesia rose 200 rupiah or 3.45 percent to 6,000, Bank Danamon gained 200 or 2.9 percent to 7,050, Bank Central Asia increased 100 to 5,550 and Bank Mandiri added 75 or 2.3 percent to 3,300. Among other gainers, car dealer Astra International rose 300 rupiah or 1.9 percent to 15,900, Unilever Indonesia gained 250 to 6,000 and Perusahaan Gas Negara rose 150 to 10,500.
Medco Energi gained 125 rupiah to 3,725, Indofood increased 30 to 1,680, nickel miner Antam rose 150 to 15,900 and rival Inco added 800 to 65,200. Meanwhile, index heavyweight Telkom was flat at 9,600 rupiah, Indosat was unchanged at 6,100 and Gudang Garam rose 450 or 4.1 percent to 11,350. Among losers, United Tractors dropped 100 rupiah to 7,200, and Astra Agro lost 150 to 14,700.
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