Indonesian shares closed 0.7 percent higher on Monday on suspected half-yearly window dressing by institutional funds, dealers said. The Jakarta Composite Index rose 16.8 points to 2,349.10 on volume of 2.9 billion shares worth eight trillion rupiah (880 million dollars).
"Local funds bought shares to shape up their books for the end of June," a trader told Dow Jones Newswires. The rupiah ended at 9,230 to the dollar compared with 9,213 on Friday. Coal miner Bukit Asam rose 3.5 percent at 16,400 rupiah on news it has raised prices for sales to state-owned Suralaya power plant. Bank Central Asia rose 5.3 percent at 2,475 rupiah and Bank Rakyat gained 1.0 percent at 5,100 on bargain buying.