Indonesian share prices closed 0.52 percent higher on Monday as gains in market leader Telkom pushed the index back into positive territory, dealers said. The Jakarta Stock Exchange composite index closed up 5.892 points at 1,147.710, off a low of 1,134.307.
Volume was 1.39 billion shares worth 1.64 trillion rupiah (170.39 million dollars). Declines led advances 64 to 60, while 66 stocks were unchanged.
The rupiah was slightly lower at 9,640-9,645 to the dollar compared with Friday's 9,620-9,625.
Prayoga Triyono, an analyst with brokerage firm PT Henan Putirai, said gains in some blue chip stocks, particularly Telkom, helped the index to rise despite a combination of a weak rupiah and a hike in world oil prices. "Apparently, dollar demand from the state banks was very strong. That's the key factor behind the weak rupiah," a forex dealer with a European bank said. Telkom gained 150 rupiah at 5,350 while long distance operator Indosat dropped 50 to 5,600.
Cigarette maker Gudang Garam was flat at 12,800 rupiah while rival Sampoerna was also steady at 8,450.
Bank Rakyat Indonesia gained 125 at 2,825 rupiah and Bank Mandiri added 20 at 1,480.