REPUBLIKA.CO.ID, JAKARTA -- The Jakarta composite index (JCI) closed 0.7 percent higher on Wednesday on foreign investors began to buy shares.

The index of the Indonesian Stock Exchange (BEI) closed at 5,168.26 points with index of 45 most liquid stocks rising 0.7 percent to the level of 886.31 points.

"The JCI rose today with foreign investment entering the domestic market again," Asjaya Indosurya Securities' analyst William Surya Wijaya said.

Subsiding tension in Ukraine and Iraq encouraged foreign investors to invest in developing countries including Indonesia, William said.

Positive sentiment also came from the auction of the government Islamic bonds which were oversubscribed, he said.

He predicted the JCI would rise higher on Thursday to around 5,101-5,209 points.

Trade at the BEI on Wednesday was recorded with 236,727 transaction and 3.59 billion shares valued at Rp4.31 trillion changing hands.

Gainers outnumbered decliners by 198 to 115 shares with 97 shares flat.

Regional markets such as Hang Seng and Nikkei recorded an increase in index but that of Straits Times declined.

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