Jakarta shares gain 1.3 percent

Indonesian shares ended 1.3 percent higher on Tuesday as blue chips rose on expectations of improving consumer confidence, dealers said. The Jakarta Composite Index gained 17.01 points to 1,369.78. "We are already at the bottom of downturn so stocks are likely to continue to trend upwards in the near term as buyers look to buy back blue chips," a trader told Dow Jones Newswires.
Top gainers included carmaker Astra International, which rose 10.7 percent to 12,400 rupiah and telecommunication company Telkom, which jumped 10.2 percent to 5,400. Bank Rakyat Indonesia and Bank Central Asia led the decline among banks caused by an ongoing lack of liquidity as they shed 8.4 percent and 2.65 percent respectively.