Indonesian share prices closed little changed on Tuesday, in volatile trade, with investors generally cautious ahead of the US Federal Open Market Committee (FOMC) meeting on Wednesday, dealers said. They said gains in major stocks including Perusahaan Gas Negara, Telkom and Astra International, helped offset some profit taking in smaller stocks.
The Jakarta Stock Exchange composite index closed up 1.339 points, or 0.06 percent, at 2,153.542, off a high of 2,167.451 and a low of 2,143.800. Volume was 4.01 billion shares valued at 4.23 trillion rupiah (465.60 million dollars). Declining stocks led gainers 100 to 98, with 60 stocks unchanged.
The LQ-45 index was down 0.058 points at 446.006. The rupiah was trading at 9,075/9,085 to the dollar, compared to 9,030/9,040 late Monday. "In general, the market moved sideways today as investors were hesitant to build up strong positions ahead of the Fed (FOMC) meeting," Mega Capital analyst Felix Sindhunata said.
He noted though that buying interest in some selected large caps helped provide some support. Auto assembly firm, PT Astra International rose 350 rupiah or 2.09 percent to 17,100 with investors optimistic of strong car sales in June. In May, the firm's domestic car sales rose 60 percent year-on-year to 19,683.
Index heavyweight Telkom rose 100 rupiah to 9,750, while rival Indosat added 100 to 6,750. State gas distributor PT Perusahaan Gas Negara gained 150 rupiah to 10,100 as investors expect the company to raise its gas selling price in August by around 10 percent.
Engineering firm Truba Alam Manunggal gained 40 rupiah or 2.48 percent to 1,450 and shrimp exporter CP Prima added 20 or 3.17 percent to 650. Tin miner Timah rose 450 rupiah or 3.83 percent to 12,200, while nickel miner Inco added 1,000 or 1.75 percent to 58,000. Inco's rival Aneka Tambang meanwhile fell 100 or 0.77 percent to 12,850.
Coal producer Bukit Asam fell 250 rupiah or 3.65 percent to 6,600 and Bumi Resources, another coal producer, dropped 25 or 1.14 percent to 2,175. Instant noodle maker Indofood lost 100 rupiah or 4.6 percent to 2,075 on profit-taking after solid gains over the past few days.
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