Jakarta share prices closed up 0.20 percent on Friday as banks gained after the government divested its remaining stake in PT Bank Internasional Indonesia (BII), dealers said. They said this helped limit the impact of profit taking in some large caps ahead of the weekend.
The Jakarta Stock Exchange composite index closed up 3.284 points at 1,672.108, off a high of 1,678.790 and a low of 1,666.397. Volume was 6.75 billion shares valued at 2.69 trillion rupiah (293.50 million dollars). Heavy volumes were largely attributable to a cross transaction involving 2.0 billion shares in PT Nusantara Infrastruktur at 50 rupiah each.
Gainers just beat decliners 59 to 57 in the broad market, with 89 stocks unchanged.
The rupiah was trading at 9,160/9,165 to the US dollar, compared to 9,155/9,160 yesterday.
Alfiansah, an analyst with Sinarmas Securities said after a firm morning session investors opted to lock in gains in selected heavy-weights. "Overall, the market maintained its positive momentum and I expect this to continue next week given expectations for improvement in the macroeconomy in the last quarter this year," he said.
Telkom lost 100 rupiah to 9,350, rival Indosat gained 100 to 5,700 and Perusahaan Gas Negara was down 50 at 10,950. BII was up 20 at 230 after resuming trade following news of the government's stake divestment, while Bank Bukopin rose 40 to 690 and Bank Niaga gained 30 to 950. Property developer Ciputra Development was up 40 at 710 and its affiliate Ciputra Surya rose 30 to 960.