Jakarta shares surge

Indonesian shares ended 1.1 percent higher on Wednesday, driven by buying in bank and automotive blue chips on hopes that lower interest rates will boost earnings, dealers said. The Jakarta Composite Index gained 14.31 points to 1314.52 in moderate trade. "Todays increase has been triggered by gains in regional markets.
Hong Kong, Japan and Singapore markets have gone up," Syailendra Capital analyst Lanang Trihardian told AFP. Bank Mandiri gained 2.8 percent to 1,850 rupiah, while Bank Rakyat Indonesia jumped 1.9 percent to 4,075. Car maker Astra International climbed 4.8 percent to 11,900 after reporting strong February sales. Coal miner Bumi Resources plunged 1.3 percent to 800.