Jakarta shares likely to decline

Indonesian shares are expected to go down due to foreign selling ahead of presidential elections, dealers said. "We think the index will move in various ways, but there'll be a tendency to go down as foreign investors pull their funds out," Bhakti Securities researcher Reza Nugraha said.
He said offshore investors would be in a holding pattern ahead of the July 8 polls. "Foreign investors are being extra cautious as the election approaches," he said.
Support would be at 1,950 and resistance at 2,000, he said. The Jakarta Composite Index lost 100.47 points to 1,990.47 during the week to June 19.