Jakarta shares plunge

Indonesian shares closed 0.9 percent lower on Tuesday, hurt by falls across Asian markets after US stocks finished lower overnight, dealers said. The Jakarta Composite Index fell 19.68 points to 2,107,55 on volume of 3.25 million shares valued at 1.43 trillion rupiah (157.3 million dollars).
"Selling by foreign funds in telecommunications, banks and mining blue chips drove the main index lower," a trader told Dow Jones Newswires. But he expects shares to rebound on Wednesday on bargain buying. Heavyweight Telkom fell 2.5 percent at 7,750 rupiah, Bank Mandiri dropped 1.8 percent at 2,800 and coal miner Bumi Resources slipped 2.8 percent at 5,250.