Indonesian shares seen losing ground

Indonesian share prices are expected to dip this week due to concerns about the weakening rupiah and technical corrections, an analyst said. "The rupiah has slipped to the 9,600 level and many stocks are already overbought," said BNI Securities research head Adrian Rusmana.
But he said several stocks which would not be affected by the fall of the rupiah, notably in the mining sector, were likely to remain strong. For the trading week ending June 10, the Jakarta Stock Exchange composite index rose 4.43 points or 0.40 percent at 1,096.932. Daily average volume totalled 1.23 billion shares worth 945.3 billion rupiah (98.5 million dollars).