Jakarta share prices closed 0.66 percent higher on Tuesday on a technical rebound in selected big caps led by Astra International, Bank Mandiri and Perusahaan Gas Negara, dealers said. They said Astra Agro was also in the limelight after the company posted a 64.6 percent rise in first half to June net profit.
The Jakarta Stock Exchange composite index closed up 15.124 points at 2,301.342 on volume of 3.7 billion shares valued at 3.2 trillion rupiah (353.08 million dollars).
Gainers led decliners 115 to 67, with 74 stocks unchanged. The rupiah was trading at 9,058/9,063 to the dollar, compared to 9,040/9,050 late Monday. "The market was up slightly for much of the day given the mixed regional market performance. However, the rise in selected big caps in late session on a technical rebound, including in Bank Mandiri drove the index higher," Henan Putihrai analyst Prayoga Ahmadi Triyono said.
He said banking stocks were also higher as sentiment in the sector was lifted by the government's plan to further divest its stake in Bank Negara Indonesia through a secondary offering, scheduled for early August.
Bank Mandiri, the country's largest bank in assets term, rose 75 rupiah to 3,475, Bank Central Asia added 150 to 5,900 and Bank Danamon surged 600 to 8,100. Astra Agro surged 250 rupiah to 15,050, Astra International surged 550 to 18,600 and United Tractors was up 250 at 8,900.
Gas distributor Perusahaan Gas Negara edged up 50 to 8,950, Energi Mega gained 10 to 880, nickel miner Inco added 500 to 52,500. Telkom fell 150 rupiah, or 1.3 percent, to 11,300 and rival Indosat was unchanged at 7,650.