Indonesian share prices are expected to continue to weaken in the coming week amid an absence of positive leads and lingering concerns over fuel prices and a falling rupiah, dealers said Friday.
"For this week, there does not appear to be any positive news and I think the index will continue to weaken with widespread corrections," said Ferry Latuhihin an analyst with the Danareksa Research Institute.
Latuhihin said that with oil prices remaining high, there were concerns
about how the government will address surging fuel subsidies and since no speedy reaction is expected, the downward slide will continue this week.
For the week ending August 19, the Jakarta Stock Exchange composite index dropped 66.016 points or 5.72 percent to 1,087.953 during the four days of trading. Wednesday was a public holiday
Average volume stood at 1.57 billion shares valued at 1.45 trillion rupiah (146.89 million dollars) compared to the previous week's 1.46 billion shares worth 1.36 trillion rupiah.
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