Indonesian share prices closed 0.84 percent lower on Thursday as investors continued to sell off their holdings amid escalating concerns over the latest oil price spike and a still weak rupiah, dealers said. The Jakarta Stock Exchange composite index closed down 9.409 points at 1,108.403, off a low of 1,101.992, on volume of 1.40 billion shares worth 1.22 trillion rupiah (124.55 million dollars).
"Technically the market is oversold but sentiment was too weak," said Edwin Sinaga, an analyst with Kuo Capital Securities. Declines led advances 92 to 30, while 59 stocks were unchanged.
The rupiah was at 9,800-9,810 to the dollar compared to Wednesday 9,787-9,792.
Carmaker Astra International fell 500 rupiah at 12,200.
Telecom firm Telkom was flat at 5,000 rupiah while long distance operator Indosat dropped 20 at 1,100.
Cigarette maker Gudang Garam was down 50 rupiah at 12,700.
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