Indonesian share prices closed 0.47 percent higher on Monday after a week-long holiday break, with gains in mining stocks and selected banks lifting the index to a new record high, dealers said.
The Jakarta Stock Exchange (JSE) composite index closed up 7.343 points at 1,580.189. The previous closing high was 1,572.846 on October 20. The index also touched a new intraday high of 1,583.095 points during the session. Volume was 1.41 billion shares valued at 2.0 trillion rupiah (219.53 million dollars). Gainers led decliners 61 to 47, with 65 stocks unchanged.
The rupiah was trading at 9,105/9,110, compared to 9,150/9,160 on October 20, the last trading day prior to the holiday when financial markets were closed. "The strong interest in mining stocks was partly due to an expected continued increase in metal prices as well as the sector's improved earnings in the third quarter," said Willy Sanjaya, an analyst with PT Mahakarya Artha Securities.
He added that Monday's rise also reflected the local market catching up with regional markets, which had mostly recorded gains while the JSE was closed last week.
Aneka Tambang rose 850 rupiah to 7,000 after reporting that its consolidated third-quarter sales rose 44 percent year-on-year. Bukit Asam was up 75 at 3,450 and Timah was up 250 at 2,450. Telkom fell 50 rupiah to 8,300 and rival Indosat was down 150 at 5,200. Citra Marga was up 60 at 890 and Inducement was up 125 at 5,075.
Banking stocks were mixed, with Bank Mandiri up 25 at 2,700, Bank Rakyat Indonesia gaining 25 to 4,900 and Bank Central Asia losing 75 to 4,650.