Indonesian share prices closed 0.39 percent higher on Wednesday, led by index heavyweight stocks and supported by a stronger rupiah, dealers said. Gains were capped by weaker banks on concerns their first half results may disappoint, they added.
The Jakarta Stock Exchange composite index was up 5.055 points at 1,312.830 on 864.972 million shares worth 1.029 trillion rupiah (112.34 million dollars).
Gainers led decliners 61 to 39, with 67 stocks unchanged. The rupiah strengthened to 9,090-9,100 to the dollar against Tuesday's of 9,125/9,130.
Rudi Ho, an analyst with Tiga Pilar Sekuritas, said the market edged up, supported by gains in select large-caps and plantation stocks, particularly Astra Agro Lestari and London Sumatra. Plantation stocks have attracted fresh interest on growing interest in bio-fuels, with palm oil a major feed stock for the fledgling industry.
Wednesday's mixed performance of regional markets prompted quick profit-taking in the second session after gains in morning trade, Ho said. "Some banks have released their first-half results but these were quite discouraging," Ho said.
Telkom dropped 50 rupiah at 7,300 while was flat at 4,225. Astra Agro Lestari jumped 700 rupiah at 8,750 and London Sumatra gained 100 at 4,850 rupiah. Gas firm PGN rose 300 rupiah to 11,600 while mining firm Aneka Tambang also rose 150 at 4,900 rupiah. Bank Danamon was down 100 rupiah at 3,975 but Bank Mandiri gained 10 rupiah at 1,640.