Indonesian share prices closed 0.27 percent lower on Monday on extended profit-taking after last week's gains, with market mover Telkom among the heaviest hit, dealers said. The Jakarta Stock Exchange composite index closed down 3.021 points at 1,128.440 on volume of 1.57 billion shares valued at 957.43 billion rupiah (97.60 million dollars.) The rupiah was at 9,803/9,813 to the dollar compared to Friday's close of 9,780/9,785.
Madani Securities analyst Aji Martono said investors failed to find leads from regional markets and therefore "was affected more by individual share movements like that of Telkom."
He said Telkom fell on profit-taking as the stock went ex-dividend Monday.
Telkom's declines also weighed on sentiment in other state companies such as Bank Mandiri, Bank Rakyat Indonesia and tin miner Timah, he said.
Telkom closed down 100 rupiah at 5,150 while sister company Indosat was up 50 at 5,300.
Timah dropped 25 rupiah to 2,125 while state nickel and gold miner Antam was down 25 at 2,425. State-owned Bank Mandiri lost 10 rupiah to 1,490 and Bank Rakyat Indonesia shed 75 to 2,950.
Bank Lippo was up 40 rupiah at 1,470 on news that Malaysia's investment arm Khazanah Nasional may buy the 52.05 percent stake in the bank for 1,561-1,619 rupiah per share.
Bank Niaga was also up 20 at 470, thanks to the stock's attractive valuation, dealers said.
Bank Central Asia was up 25 rupiah at 3,550 ahead of its cum dividend date Tuesday.
Blue-chip Astra International rose 100 rupiah to 12,300. Astra's rebound comes after unit Toyota Astra Motor posted sales of 247 billion rupiah during a 10-day automotive show which ended Sunday.
Cigarette firm Gudang Garam rose 50 rupiah to 13,100.
From a technical point of view, Martono sees the market remaining under profit-taking pressure for the rest of the week.
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