Indonesian shares ended 0.3 percent lower on Wednesday amid concerns over a weaker rupiah and the central bank's reluctance to cut interest rates, dealers said. The Jakarta Composite Index dropped 3.51 points to 1,366.27 in moderate trade.
The rupiah weakened slightly to 11,025 to the dollar compared with 11,000 the day before. "It was a healthy correction after the main index rebounded 23 percent higher in the previous five sessions," a trader told Dow Jones Newswires.
Dealers expect shares to rebound if US stocks finish higher in response to Barack Obama's victory in the US presidential election. Top decliners included car distributor Astra, which shed 7.3 percent to 11,500 rupiah, and heavy equipment United Tractors, which lost 9.9 percent to 4,075. Telecommunications company Telkom gained 4.6 percent to 4,650 rupiah.
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