Jakarta shares decline

Indonesian share prices closed down 0.88 percent on Tuesday on late profit-taking as investors chose to cash in gains amid a lack of fresh positive leads, dealers said. The Jakarta Stock Exchange composite index closed down 18.642 points at 2,093.110, off an intraday high of 2,117.559 and a low of 2,084.171.
Volume was 12.99 billion shares worth 6.83 trillion rupiah (776.14 million dollars). Declines led advances 112 to 96, while 41 stocks were unchanged. The rupiah was trading at 8,790/8,800 to the dollar against 8,783/8,788 late Monday.
"I think it is the right time to take profits... we have recommended to our investors that they do not accumulate shares, probably until around late July," Valbury Asia Securities dealer Suryo Dipo said. He noted that selling in small cap electronics distributor Agis sparked profit-taking in most other second liners in late trade.
Agis dropped 975 rupiah or 24.8 percent to 2,950. Index heavyweight Telkom shed 50 rupiah to 9,700 and rival Indosat dropped 200 or 2.9 percent to 6,600, Nickel miner Antam lost 1,000 or 7.46 percent to 12,400, Inco dropped 1,450 to 53,300, tin miner Timah fell 700 or 6.14 percent to 10,700, Perusahaan Gas Negara declined 150 to 9,850 and coal giant Bumi Resources dropped 40 to 1,880.
Bank Mandiri declined 75 to 3,150 while Bank Rakyat Indonesia rose 50 to 6,300, Bank Danamon gained 50 to 7,300 and Bank Central Asia rose 100 to 5,400. Cigarette maker Gudang Garam rose 150 to 11,150, Unilever Indonesia gained 100 to 6,200, and car dealer Astra International rose 150 to 16,750.