Jakarta share prices finished 0.58 percent higher at a fresh all-time closing high on Friday, bolstered by a further rebound on Wall Street overnight, with miners well supported, dealers said. However, they said with some investors pocketing gains from select major stocks, such as Telkom and Perusahaan Gas Negara ahead of the weekend, the market's upside was capped.
The Jakarta Stock Exchange composite index closed up 12.228 points at 2,120.640 points. It also touched a fresh all-time intraday high of 2,122.895. The day's low was 2,108.252. The last closing record high was 2,111.751 points, on June 4, with the previous intraday record at 2,117.559 touched on June 5.
For the week, the main index gained 66.191 points, or 3.2 percent. Volume was 4.96 billion shares valued at 4.42 trillion rupiah (488.51 million dollars). The rupiah was trading at 9,043/9,048 to the dollar, compared to 9,070/9,080 late Thursday. "Overall, market sentiment was driven by positive offshore markets as well as further interest in mining stocks as investors expect the uptrend in the price of commodities such as nickel, tin and coal, to continue, boosting their earnings," Dongsuh Kolibindo analyst Ryan Ariadi Suwarno said.
He said the bullish trend should continue next week, with the listing of two mid-sized companies Sampoerna Agro on Monday and Media Nusantara Citra (MNC) on Friday, providing a focus of interest. Coal producer Bumi Resources rose 50 rupiah, or 2.65 percent, to 1,940 and its rival Bukit Asam added 100 to 6,450.
Toll road operator Citra Marga rose 100 rupiah to 2,850, Astra International gained 100 to 16,500, Semen Gresik added 250 to 44,500 and Indocement put on 50 to 5,700.
Index heavyweight Telkom fell 50 rupiah to 9,750, while rival Indosat added 100 to 6,900. Gas distributor Perusahaan Gas Negara fell 200 rupiah, or 2.07 percent, to 9,450. In the financial sector, Bank Mandiri added 25 rupiah to 3,225, Bank Rakyat Indonesia lost 50 to 5,800, and Bank Central Asia finished flat at 5,350.