Indonesian shares closed a volatile session 0.5 percent higher on Thursday, supported by overnight gains on Wall Street and higher dividend payouts by major companies, dealers said. The Jakarta Composite Index closed up 13.19 points at 2,446.95, off a high of 2,455.56 and a low of 2,426.90. But decliners outnumbered gainers 102 to 88, with 69 stocks unchanged.
Volume was 4.20 billion shares valued at 6.34 trillion rupiah (680.62 million dollars). Leading gainers were Indonesia's largest bank in assets term, Bank Mandiri, and conglomerate Astra International after announcing larger dividend payouts following strong 2007 earnings. Coal producers Bumi Resources, Bukit Asam and Indotambangraya advanced on hopes coal prices will remain high this year on stronger demand. Bumi Resources rose 3.1 percent to 8,200 rupiah as its peer Bukit Asam advanced 1.8 percent to 13,900.
Bank Mandiri climbed 2.7 percent to 2,900 after it announced shareholders had approved a final dividend of 186 rupiah (0.19 dollars) per share for 2007, more than double what it paid last year. Conglomerate Astra International gained 3.4 percent to 21,050, following the company's announcement Wednesday that it will pay a final dividend of 484 rupiah per share.
Oil producer Medco Energi advanced 4.2 percent to 5,000 and its peer Energi Mega edged up 0.9 percent to 1,180. Among decliners, nickel miner Inco dropped 1.6 percent to 6,300 and Antam fell 1.5 percent to 3,275, while nickel and gold producer Antam dropped 1.5 percent to 3,275 on a pullback in nickel prices. Nickel fell to 22,800 dollars a tonne on Wednesday on the London Metal Exchange (LME) from 23,300 dollars the previous day.
Gas distributor Perusahaan Gas Negara dropped 1.4 percent to 13,650, Bank Rakyat Indonesia declined 3.3 percent to 5,850 and pulp and paper company Indah Kiat slumped 10.7 percent to 2,500.