Indonesian share prices closed 1.10 percent higher on Wednesday on a technical rebound after recent falls but with the main index ending off its intra-day high amid some profit-taking, dealers said.
The Jakarta Stock Exchange composite index closed up 15.873 points at 1,451.080, off a high of 1,457.297, on volume of 1.35 billion shares worth 1.59 trillion (174 million dollars).
The rupiah was at 9,110/9,115 to the dollar against 9,145/9,150 Tuesday. "The main index gain could not be (fully) sustained as it was simply a technical rebound," said AAA Securities head of research Arianto Reksoprojo. A dealer with Sucorinvest noted that Wednesday's was largely driven by rebounds in major stocks Astra International, Telkom and Indosat.
Astra International was up 300 rupiah at 11,850, Telkom rose 100 at 7,800, Indosat put on 200 at 4,725 and Gudang Garam gained 100 at 10,500. Interest-rate sensitive banking stocks were mostly higher. Bank Mandiri was up 25 at 2,100, Bank Central Asia added 50 at 4,500 and Bank Rakyat Indonesia rose 125 at 4,700. Oil and gas firm Medco was down 100 at 3,200, rival Energi Persada was flat at 540 and gas distributor Perusahaan Gas Negara shed 100 at 12,550.
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