The index of the Indonesian Stock Exchange rose 26.67 points or 0.59 percent to 4,518.93 points with the index of 45 most liquid stocks up 0.61 percent to 761.92 points.
The index rise is limited as some investors believed that the euphoria would not last very long, HD Capital`s analyst Yuganur Wijanarko said .
"It is feared that the effect of positive sentiment would not last long," Yuganur said , adding profit taking would result in the fall of the BEI index again .
He recommended short term transaction to the market player if the BEI index falls again to the level of 4,450 points.
However, Panin Sekuritas` analyst Purwoko Sartono predicted the BEI index would go up still to as high as 4,550 points in the last weekend trade on Friday.
Trading on Thursday on the BEI recorded 154,325 transactions with 4.165 billion shares worth Rp4.271 trillion changing hands.
Gainers outnumbered decliners by 182 to 96 with 100 shares unchanged.
Regional markets such as Hang Seng recorded a decline of 0.57 percent in index to 23,094.88 points with Nikkei-225 index up 0.83 percent to 14,586.51 points and that of Straits Times gaining 0.40 percent to 3,186.62 points.
Meanwhile rupiah also gained 45 points against the US dollar on expectation that the US central bank would maintain its monetary stimulus policy.
The rupiah closed at the level of 11,150 per dollar on Thursday stronger than the previous level of 11,195 .
Chief researcher of Monex Investindo Futures, Ariston Tjendra, said the US dollar weakened against the majority of the world`s currencies including rupiah on expectation that the stimulus tapering would be postponed.
The US central bank would maintain its stimulus as the world`s largest economy is still in the process of recovery from the effect of the partial US government shutdown in the past 16 days.
Ruly Nova, a financial market observer from Bank Himpunan Saudara said positive domestic condition gave rupiah more opportunity to gain more strength.
"In addition, the Indonesian foreign exchange reserves are expected to increase after the swap facility agreement between Bank Indonesia and its South Korean counterpart early this week," Ruly said.
Meanwhile, the middle exchange rate of Bank Indonesia on Thursday showed that rupiah weakened to 11,351 per dollar from 11,316 the day before.
(SYS/H-ASG/H-YH)
Editor: Suryanto
Copyright © ANTARA 2013
