Indonesian share prices closed 0.95 percent lower on Wednesday pressured by falls on Wall Street overnight and subsequent losses in key East Asian markets, dealers said. They said major stocks such as Telkom, Astra International and mining stocks led the declines.
The Jakarta Stock Exchange composite index closed down 19.979 points at 2,088.601, on volume of 3.77 billion shares valued at 2.82 trillion rupiah (310,47 million dollars).
The rupiah was trading at 9,078/9,083 to the dollar, compared to 8,975/8,985 late Tuesday. "We're just following the regional markets today. There were no fresh domestic leads that might have helped sustain the market's rise of the past two days," PT Henan Putihrai analyst Prayoga Ahmadi Triyono said. Index heavyweight Telkom fell 150 rupiah, or 1.52 percent, to 9,700, while rival Indosat lost 50 to 6,700.
Coal miners Bukit Asam fell 400 rupiah, or 5.93 percent, to 6.350 and Bumi Resources lost 20 to 1,840. Aneka Tambang declined 300 to 13,050, Inco lost 2,700, or 4.75 percent, to 54,200 and tin miner Timah gave up 350 to 11,450. Bank Rakyat Indonesia dropped 50 to 6,050, Bank Central Asia was unchanged at 5,350 and Bank Mandiri was also flat at 3,125.
Astra International slipped 350 rupiah to 16,150 and Perusahaan Gas Negara shed 50 to 9,650. Retailers gained on rotational play as investors targeted the sector which has lagged gains elsewhere in the market of late. Mitra Adiperkasa rose 40 rupiah, or 4.6 percent, to 910, Matahari added 10 to 760, and Ramayana put on 50, or 6.17 percent, to 860.