Jakarta shares rises

11 Nov, 2006

Indonesian share prices finished 0.28 percent on Friday higher at a new record finish, led by gains in select index heavyweights such as Telkom and Perusahaan Gas Negara, dealers said. They noted though there was some pressure in the broad market partly because of weakness elsewhere in the region.
The Jakarta Stock Exchange composite index closed up 4.573 points at a new all-time high of 1,664.837. Volume stood at 1.32 billion shares valued at 1.76 trillion rupiah (193.19 million dollars).
Decliners led gainers 54 to 51, with 86 stocks unchanged. The rupiah was trading at 9,112-9,117 to the dollar compared to Thursday's close of 9,118-9,121 rupiah. "Overall, investors remain upbeat about the market given improving macro economic conditions and expected strong company results in the last quarter of this year and into next year," Samuel Sekuritas analyst Christine Salim said.
Friday's gains, however, were limited by some profit taking in selected second liners that have risen recently, Salim said. She added that the government's planned announcement of its third quarter GDP figures next Wednesday will surpass the second quarter performance, further lifting stocks. Among index heavyweights, Telkom rose 200 rupiah to 9,400 and long distance operator Indosat also netted 150 to 5,550.
Mobile phone operator Excelcomindo rose 50 to 2,200 and state gas firm PGN also gained 100 rupiah at 11,900. Carmaker Astra International dropped 350 at 14,500 but its subsidiary unit United Tractors gained 100 at 6,700. Bank Bukopin netted 30 at 640 but rival Bank Mandiri was flat at 2,775.

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