Jakarta share prices closed up 0.88 percent on Wednesday with gains in Telkom and cement stocks helping lift the index to a fresh record close for a fourth straight day, dealers said. They said the market was also supported by strength in other East Asian markets, which followed mild gains on Wall Street overnight.
The Jakarta Stock Exchange composite index closed up 18.888 points at a new high of 2,161.074 on volume of 6.17 billion shares worth 5.04 trillion rupiah (563.13 million dollars). Index heavyweight Telkom gained 100 rupiah to 9,800 on rotational play while rival Indosat was flat at 6,850.
Cement maker Inducement rose 450 or 7.5 percent to 6,450, while the country's biggest cement maker Semen Gresik rose 1,900 or 4.2 percent to 46,900. Crude palm oil (CPO) producer Astra Agro rose 850 or 6.25 percent to 14,450 with the company downplaying the effect of a hike in the export tax on CPO on its earnings.
Meanwhile, coal miners extended their rally as investors reamin optimistic about their earnings prospects amid strong global coal prices. Bukit Asam gained 150 to 7,250 while Bumi Resources added 25 to 2,175.
Among major losers, nickel and gold miner Antam fell 50 to 13,150 on an extended sell-off after the firm announced Tuesday that it has curtailed operations at its FeNi III ferronickel smelter following the discovery of a small leak in a furnace wall last Saturday night.