Indonesian share prices closed 0.40 percent lower on Tuesday as a weakening rupiah further dampened poor sentiment caused by concerns over rising oil and energy prices, dealers said.
The Jakarta Stock Exchange composite index closed down 4.449 points at 1,113.825 on volume of 932.93 million shares worth 1.09 trillion rupiah (110.88 million dollars).
The rupiah was at 9,915/9,925 to the dollar, a fresh low since April 2002, down from Monday's level of 9,880/9,885.
Dealers said investors largely ignored President Susilo Bambang Yudhoyono's state-of-the-nation speech at parliament earlier, during which he unveiled the 2006 draft budget.
"The selling pressure was relatively more subdued compared to yesterday but foreign investors are still on the selling side. I think concerns remain on the weakness of the local currency and high energy prices," said Adi Nugroho, an analyst with Sucorinvest Securities.
He said after Monday's market freefall, the opportunity to start accumulating some stocks has opened up but people were still reluctant to take fresh positions.
"What keeps them nervous is the planned increase of fuel and LPG (liquefied petroleum gas) prices," he added. Among losers, Astra International was down 350 rupiah at 10,800 and United Tractors was down 150 rupiah at 4,150.
Bank Danamon was down 100 rupiah at 4,700 and Unilever lost 75 rupiah at 4,250. Perusahaan Gas Negara was down 50 rupiah at 3,450 and Indofood shed 10 at 960 rupiah. Cement maker Indocement lost 25 rupiah at 3,250 and Bank Mandiri was up 10 at 1,590 and Bank Rakyat Indonesia (BRI) rose 25 rupiah to 2,850. Bank Central Asia was up 25 at 3,450 and Indosat was up 25 rupiah at 5,650. Cigarette maker Gudang Garam was up 50 rupiah at 11,850.
Comments
Comments are closed.