Jakarta shares close 0.39 percent higher

Jakarta shares close 0.39 percent higher

Jakarta share prices closed up 0.39 percent on Monday, bolstered by Telkom, although sentiment remained weak on concerns about a possible delay to legislative elections, dealers said.

The Jakarta Stock Exchange composite index added 2.792 points to 716.921 on volume of 636.7 million shares worth Rp 469.48 billion (US$54.46 million).

Gainers led losers 57 to 34, with 73 stocks unchanged.

The rupiah was slightly higher at Rp 8,597-8,602 to the U.S. dollar, compared with 8,615-8,620 late on Friday last week.

Trust Securities analyst Dian Abdul Hakim said that with a lack of direction from abroad, the market was led higher by state telecoms company Telkom.

"We have had little influence from the regional markets and not enough incentives for people to trade on," said Hakim.

Concerns over a possible delay to the April 5 polls also weighed on the index, Hakim said.

Index heavyweight Telkom was up Rp 50 at Rp 6,650 while long distance firm Indosat was flat at Rp 3,675.

Cigarette maker Gudang Garam gained Rp 100 at Rp 12,750 while rival Sampoerna also netted Rp 150 at Rp 4,575.

Carmaker Astra International was flat at Rp 5,150.

Bank Central Asia dropped Rp 125 at Rp 3,450.

State-owned Bank Mandiri was down Rp 25 at Rp 1,300 while rival Bank Rakyat Indonesia gained Rp 25 at Rp 1,450. -- AFP