REPUBLIKA.CO.ID, JAKARTA - The Indonesian stock market rose on Monday to its highest in 10 months ahead of elections in the country later in the week, but other Southeast Asian shares were rangebound despite a US jobs report last week that helped boost sentiment.

The Jakarta Composite Index was up 1.4 percent by 0658 GMT, trading at its highest since June 7, 2013, led by financials and market heavyweights.

Millions of Indonesians head to the polls to elect a new parliament on April 9 and a president three months later in a race that could bring major changes to the way the world's third-largest democracy is run, with the opposition Indonesian Democratic Party for Struggle (PDIP) consistently topping opinion polls. 

The market has risen more than 15 percent so far this year as investors hope opposition candidate Joko Widodo, the favourite to win July's presidential poll, will restart stalled reforms, making the world's fourth most-populous nation a strong contender for more investment.

Shares in Astra International gained 2.6 percent, while Telkom Indonesia was up 2 percent, boosting the overall index.

Friday's US jobs report was firm enough to soothe concerns about US recovery, but still not so strong as to hasten the end of policy stimulus. The Philippines shares gained 0.7 percent, hovering near an over five-month high, while Vietnam gained 1.5 percent to a level seen on March 26. Malaysian shares traded 0.1 percent firmer. But Singapore stocks were 0.5 percent down, falling for a second straight session due to an overdue correction amid a lack of fresh positive factors.

Ikuti Whatsapp Channel Republika