The benchmark measure rebounded on Friday, rallying as much as 1.5 percent before paring those gains, led by large capitalized stocks such as PT Telekomunikasi Indonesia and PT Unilever Indonesia, which rose by more than 2 percent each.
Traders were given a positive lead from New York, where all three main indexes ended higher, with reports saying the president hopes to present an infrastructure plan to Congress early next month.
Individual investors – the stalwarts underpinning equity markets like China’s – accounted for just 41 percent of total turnover on the Indonesian stock exchange last year, compared with more than 80 percent for Taiwan and 59 percent in nearby Thailand.
The city-state has posted solid growth in the past two quarters as global trade continues to rebound, supporting its export-oriented economy.
At least half a dozen exchanges including those in New York, London, Hong Kong, Tokyo and Toronto are vying for a slice of Saudi Arabian Oil’s IPO.