JAKARTA - Indonesia shares rose to a new record high Thursday on combination of local fund share purchases and buoyant investor sentiment as well as expectation of cut next week in the central bank's one month rate. The Jakarta Stock Exchange Composite index closed up 17.828 points, or 1.12 percent at of 1,606.696 as gainers led losers 80 to 4.
Bluechips led index rise with bellwether Telekomunikasi Indonesia up 0.6 percent to 8,550 rupiah while heavyweight Bank Mandiri up 5.6 percent to 2,850 rupiah, and automobile manufacturer Astra International gained 2.2 percent to end at 13,850 rupiah.
Traders hope the index will trade flat to slightly higher Friday as profit-taking tendencies compete with local big fund efforts to keep index above 1600 level to prevent potential corrective share selloff. Meanwhile, the local currency, the rupiah, fell slightly as the U.S. dollar closed at 9.112 rupiah, up from Wednesday's close of 9,105.
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JAKARTA - Indonesia shares rose to a new record high Thursday on combination of local fund share purchases and buoyant investor sentiment as well as expectation of cut next week in the central bank's one month rate. The Jakarta Stock Exchange Composite index closed up 17.828 points, or 1.12 percent at of 1,606.696 as gainers led losers 80 to 4.
