Jakarta shares down

Indonesian shares closed 1.02 percent lower Tuesday due to selling in mining and banking stocks, dealers said. The Jakarta Composite Index lost 24.47 points to 2,381.95 in moderate trade. "The selloff was likely related to margin calls and fears that the government will hike electricity tariffs next month," a trader told Dow Jones Newswires.
Coal miner Bumi Resources dropped 7.6 percent to 2,150 on concerns over its high debt leverage after issuing 300 million dollars of bonds. Bank Mandiri fell 1.6 percent to 4,625 on profit-taking.