The index of the Indonesian Stock Exchange (BEI) rose 0.29 percent to 4,594.01 points with the index of 45 most liquid stocks up 0.58 percent to 776.27 points.
Chief researcher of Trust Securities, Reza Priyambada, said the majority markets in Asia gained on Monday morning giving positive sentiment to the domestic market.
"As long as the increase in the BEI index is not followed immediately by profit taking the opportunity is still there for the BEI index to continue to climb," Reza said.
He predicted that the BEI index would move around 4,569--4,615 pints in Monday`s trading.
He predicted gains to be recorded by AKR Corporindo (AKRA), Indofood CBP Sukses Makmur (ICBP), Ciputra Surya (CTRS) and Ultra Jaya Milk Industry & Trading Compa (ULTJ).
A team of technical analysts from Mandiri Sekuritas said rupiah stability gave positive sentiment to the domestic market.
However, market players have turned their attentions to third quarter financial reports and inflation to be published toward the end of this week, it said.
Regional markets such as Hang Seng recorded a 0.47 percent increase in index to 22,804.16 points with Nikkei-225 index up 1.16 percent to 14,251.16 points and that of Straits Times gaining 0.35 percent to 3,216.52 points.
Meanwhile the national currency rupiah remained flat at the level of 11,001 per dollar in the firs minutes of trading on Monday.
Monex Investindo Futures` analyst Ariston Tjendra said rupiah would tend to be stable against the US dollar on Monday.
"Rupiah outlook at present is neutral. Rupiah may trade at the level of 10,875--11,190 per dollar today," Ariston predicted.
He said rupiah stability against the dollar is strengthened by investors choosing to wait and see what would come out from the US central bank leaders` meeting amid fears of liquidity in the Chinese banking sector.
Ruly Nova, a financial market observer from Bank Himpunan Saudara, said positive expectation in the domestic financial market on economic performance to be published in November would bring rupiah to a positive area.
"Positive sentiment in the domestic financial market would strengtehn rupiah," Ruly said, adding especially with indication of slowdown in the US economy.
"The partial government shutdown earlier this month has contributed to the US economic slowdown," he said.(*)
Editor: Heru Purwanto
Copyright © ANTARA 2013
