Profit taking hit Jakarta stocks on Friday after strong gains in the past three trading days propelled the index to record highs amid bullish sentiment over the 2005 outlook. The composite index lost 1.63 percent to close at 981.41 points in active turnover of around 1.5 trillion rupiah ($168 million). Decliners outnumbered gainers 101 to 42 with 77 shares unchanged.
Supermarket chain PT Hero Supermarket Tbk rose again on the recent news that Dairy Farm International Holdings Ltd would bid for all outstanding shares in the firm at 2,800 rupiah each.
Hero jumped 10.4 percent to end at 2,650 rupiah after leaping 29.7 percent the previous day.
The country's largest telephone firm, PT Telekomunikasi Indonesia Tbk, shed 3.85 percent to 5,000 rupiah after recent rallies sparked by a Standard & Poor's upgrade on its long-term local currency rating.
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