Jakarta shares closed 0.66 percent lower on Monday, led by car dealer Astra International, on profit-taking after last week's record-setting run, dealers said. The Jakarta Stock Exchange composite index closed down 10.412 points at 1,561.786, after touching a new intraday high of 1,579.505 and a low of 1,555.554.
The previous all-time intraday high and closing high were reached on Friday at 1,572.975 points and 1,572.198, respectively. Volume on Monday was 1.96 billion shares worth 1.77 trillion rupiah (192 million dollars).
The rupiah strengthened to 9,160/9,170 to the dollar from 9,202/9,209 on Friday. "The market had been technically overbought, so profit-taking was quite healthy," said Felix Sindhunata, head of research at brokerage firm Mega Capital.
He said after last week's record-breaking run by the benchmark index, the market needed to consolidate ahead of the Idul Fitri holidays, which are set for the whole of next week.
"Fundamentally, there is nothing to worry about. I am still optimistic that the main index can break 1,600 points next month," he added. Among major stocks, Astra International lost 650 rupiah or 4.7 percent to close at 13,150, Telkom was down 50 at 8,200, Bank Rakyat Indonesia fell 100 to 4,900 and Bank Mandiri dropped 50 to 2,750.
Perusahaan Gas Negara dropped 200 to 11,150 and Indosat was down 50 at 5,350. Bucking the index fall, Bank Central Asia rose 25 to 4,700, Gudang Garam was up 50 at 10,400 and coal miner Bukit Asam was up 25 at 3,350.
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