Indonesian share prices closed 1.76 percent lower on Thursday on across-the-board profit-taking with many stocks now seen richly valued after last week's strong gains, dealers said. Weakness in some regional markets also weighed on sentiment, they said.
The Jakarta Stock Exchange composite index closed down 31.736 points at 1,773.956 on volume of 3.09 billion shares worth 2.5 trillion rupiah (275.33 million dollars). Decliners led advancers 136 to 29, while 47 stocks were unchanged. The rupiah was at 9,097/9,102 to the dollar compared to 9,075/9,080 late Wednesday.
Among the main losers, Astra Agro fell 850 rupiah to 13,100, Matahari dropped 50 to 730 and Holcim Indonesia slipped 40 to 670. Indocement was down 300 at 5,350, INCO dropped 1,400 to 34,200 and Bimantara ended 175 lower at 4,700.
Index heavyweight Telkom fell 200 to 9,750, Astra International declined 250 to 15,550, Indosat was down 100 at 6,000, Perusahaan Gas Negara fell 100 to 9,000 and Gudang Garam lost 150 to 9,850. Banking stocks also slumped with Bank Mandiri down 50 at 2,700, Bank Danamon 100 lower at 6,150, Bank Central Asia shed 100 to 5,200 and Bankn Rakyat Indonesia was down 50 at 5,350. Meanwhile, tin miner Timah finished flat at 6,700. The company is set to benefit from a new regulation limiting exports of refined tin.
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