Southeast Asian stock markets were closed on Wednesday due to the May Day holiday, except the Indonesian market, which closed 0.53 percent higher after real estate companies reported higher-than-expected first-quarter results. The Jakarta Composite Index continued its rally for a second day and hit a fresh high of 5,062.67 before closing at 5,060.92, boosted by property companies which were up 2.97 percent.
Shares of Kawasan Industry Jababeka soared as much as 13.3 percent to an all-time high of 340 rupiah after the company's quarterly net profit quadrupled from a year earlier. Lippo Cikarang and Agung Podomoro Land rose more than 5 percent to 7,350 rupiah and 500 rupiah, respectively.