Jakarta shares higher

15 Oct, 2005

Indonesian share prices closed 0.57 percent higher Friday on a rebound led by index heavyweights Astra International and Telkom after the rupiah strengthened against the US dollar, dealers said.
The Jakarta Stock Exchange composite index closed up 6.169 points at 1,096.704 on volume of 3.76 billion shares valued at 2.78 trillion rupiah (274.43 million dollars).
Advancers led decliners 61 to 32, with 79 stocks unchanged. The rupiah was at 10,100-10,110 to the dollar compared to Thursday's 10,140-10,150. "It's because of Telkom and Astra that the index managed to sustain its gains," said Meridian Capital Indonesia analyst Muhammad Habdi.
He said gains in the rupiah supported sentiment in both stocks as a stronger local currency would lower car import costs for Astra and ease Telkom's foreign debt burden.
Carmaker Astra International gained 350 rupiah to 9,450 while unit United Tractors also rose 25 to 3,550.
Telecom firm Telkom added 100 to 5,200 while long distance Indosat dropped 50 to 5,600.
Bank Rakyat Indonesia netted 50 to 2,400 while rival Bank Mandiri was flat at 1,410.

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