Jakarta share prices closed 0.5 percent lower on Wednesday as investors opted to lock in gains following the market's strong rally over the past three days, dealers said. Gains in Astra group shares limited the market's fall, they added.
The Jakarta Stock Exchange composite index closed down 13.36 points at 2,451.59, off a new all-time intraday high of 2,498.79. Volume was 7.73 billion shares valued at 7.66 trillion rupiah (839.08 million dollars). Decliners led gainers 149 to 60, with 54 stocks unchanged.
The Indonesian rupiah was trading at 9,119/9,129 to the US dollar, compared to 9,095/9,100 late Tuesday. "The market was quite volatile today. It was up and down, but finally it finished lower," Eurocapital Peregrine Securities analyst Poltak Hotradero said.
"I think some market players' move to realise profit was justified given the market's strong rally in the past few days. The good thing is that there was no panic selling," he said. The reversal in other major East Asian markets contributed to the move, he said. Index heavyweight Telkom fell 50 rupiah or 0.4 percent to 11,950, after rising to 12,400 and its rival, Indosat, fell 250 rupiah or 3 percent to 8,200.
Indonesia's largest bank by assets Bank Mandiri lost 75 to 3,575 and state gas distributor Perusahaan Gas Negara was down 150 at 12,050. Nickel miner Inco fell 650 to 68,450, off a high of 70,100, nickel and gold miner Antam lost 125 to 2,600.
Among gainers, Astra International rose 350 to 20,450, off a high of 21,200, its heavy equipment distributor unit United Tractors gained 450 to 8,950 and Astra Agro added 300 to 18,250. Bukit Asam rose 150 to 7,000, Bank Negara Indonesia added 25 to 2,050 and Bank Rakyat Indonesia gained 250 rupiah to 7,450.
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