Jakarta index sees biggest gain in six months

The Jakarta Composite Index rose by 74.65 points, or 5.1 percent Monday, the biggest daily percentage gain so far this year.

Analysts said the increase was spurred by a stronger rupiah and confidence after the overall peaceful elections.

The benchmark index closed at 1,540.40, the highest since Oct. 14, according to data compiled by Bloomberg.

The rupiah gained almost 2 percent to reach 11,110 a dollar as of 4:24 p.m. in Jakarta, after reaching 11,085, its strongest point since Jan. 22. The currency has pared its losses this year to 1.9 percent.

National elections last week saw incumbet President Susilo Bambang Yudhoyono's Democratic Party secure the biggest share of votes for the national legislature, according to early, unofficial counts.

State owned telecommunication company PT Telekomunikasi Indonesia saw its share price rise 7.3 percent, the most in four months, while PT International Nickel Indonesia surged 9.4 percent after metal prices gained.