REPUBLIKA.CO.ID, JAKARTA -- The Jakarta composite index (JCI) closed higher on expectation that the country's economic condition would improve.

The index of the Indonesian Stock Exchange rose 20.47 points or 0.42 percent to 4,840.15 points with index of 45 most liquid stocks up 0.35 percent to 814.96 points.

William Surya wijaya, analysts from Asjaya Indosurya Securities said good economic signals was one of the factors pushing up the share prices on the domestic market.

"Economic data including inflation and trade balance to be released early May are expected to drive up the JCI higher," William said.

He said technically the JCI should increase further.

HD Capital's analyst Yuganur Wijanarko despite the pressure of profit taking the JCI has extended gain.

The BEI recorded 207,534 transactions in Wednesday's trade with 3.51 billion shares worth Rp5.65 trillion changing hands.

Advancers outpaced decliners by 199 to 110.

Regional markets such as Hang Seng recorded a 1.42 percent decline in index to 22,133.97 points, with Nikkei index up 0.11 percent to 14,304.11 points and that of Straits Times gaining 0.78 percent to 3,263.18 points.

Meanwhile, rupiah lost value trading at the level of 11,565 from 11,548 per US dollar in Wednesday's closing trade.

However, Rully Arya Wisnubroto, a financial market analyst from Bank Mandiri, said the fluctuation of rupiah against the US dollar was relatively stable.

Rully attributed the fluctuation to psychological effect in the financial market with the investors awaiting Indonesia's macro economic data mainly inflation and trade balance.

In addition the market players' psychology was also influenced by the political issue ahead of the presidential election on July 9.

Analyst from Monex Investindo Futures Zulfirman Basir said the sentiments in the financial market are varying restricting the rupiah movements.

"Data about the country's macro economy to be released early May would indicate position of trade balance, inflation and manufacturing industry in the coming days," Zulfirman said.

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