The index of the Indonesian Stock Exchange (BEI) rose 19.40 points to close at 4,605.22 points with 45 most liquid stocks up 0.62 percent to 793.78 points.
Analysts of Asjaya Indosurya Securities William Surya Wijaya attributed the rise in JCI to the return of foreign investors to the domestic market.
"Selling pressure is receding with the return of foreign investors to the domestic market. That also shows that foreign investors still have strong confidence in the countrys economy," William said.
In trade on Wednesday foreign investors recorded a net buy of Rp373.544 billion .
William predicted that foreign fund would continue still to flow into the domestic market to push up the JCI higher.
Chief researcher of Universal Broker Indonesia Satrio Utomo said the JCI is expected to climb up higher to reach the level of 4,700-4,750 points soon with foreign investors expected to be aggressive in buying shares.
"However, rupiah which weakened to the level of 13,700 per US dollar could curb upward move of the JCI," he said.
In Wednesdays trade there were 243,581 transaction with 4.37 billion shares valued at Rp4.14 trillion changing hands.
Gainers outnumbered decliners by 169 to 125 shares with 97 other shares remaining unchanged.
Regional markets such as Nikkei, KOSPI and Straits Times recorded gain on Wednesday.(*)
Editor: Heru Purwanto
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