Indonesian share prices closed up 0.28 percent on Monday at a new record high as sentiment remained upbeat after another positive finish on Wall Street last week, dealers said. The Jakarta Stock Exchange composite index closed up 5.853 points at 2,126.493, beating the previous record of 2,120.640 last Friday.
The index also hit a fresh record intraday high of 2,137.455 points, up from 2,122.895 last Friday. Volume was 5.56 billion shares worth 4.66 trillion rupiah (515 million dollars).
The rupiah was trading at 8,900/8,910 to the dollar, strengthening from 9,043/9,048 late Friday. "The strong showing on Wall Street and other markets in the (East Asian) region Monday continued to support our market," Kuo Capital analyst Arif Sigita said.
He noted that aside from gains in newly listed Sampoerna Agro and some banks, the main index also got support from coal miners Bumi Resources and Bukit Asam who continue to benefit from strength in global prices for coal and oil. Bumi Resources gained 110 rupiah or 5.67 percent to 2,050 while Bukit Asam rose 250 or 3.88 percent to 6,700.
Crude palm oil (CPO) producer Sampoerna Agro rose 185 rupiah or 7.91 percent to 2,525 on debut, aided in part by the uptrend in global prices for the oil and demand for the stock from investors who missed out in acquiring shares during the IPO subscription period. The country's biggest lender Bank Mandiri gained 25 rupiah to 3,250, Bank Central Asia rose 50 to 5,400, and Bank Rakyat Indonesia added 150 to 5,950.
Meanwhile, index heavyweight Telkom was among stocks hit by profit-taking following recent strength, dropping 50 to 9,700, off a high of 9,850, while tin miner Timah fell 150 to 11,400, off a high of 11,750.