Indonesian share prices closed 0.48 percent lower on Tuesday in quiet trade ahead of a two-day holiday, with declines in blue chips Telkom and Indosat outpacing a rebound by Bank Mandiri, dealers said. They said foreign brokerages continued to sell telecom stocks in early trade on a lack of positive sentiment. The Jakarta Stock Exchange composite index was down 5.024 points at 1,036.604 on volume of 1.72 billion shares worth 1.12 trillion rupiah (122 million dollars.) Decliners led advancers 48 to 39, while 97 stocks were unchanged.
The rupiah traded at 9,278-9,288 to the dollar compared with Monday's 9,205-9,215.
The financial markets will be closed Wednesday and Thursday for the Lunar and Islamic New Year holidays.
"Today, the market fell on Telkom and Indosat's losses," Equity Development Securities analyst Nugraha Adi said.
State telecom firm Telkom fell 25 rupiah at 4,625 rupiah, while long distance operator Indosat lost 200 rupiah at 5,300.
Cigarette maker Gudang Garam fell 400 rupiah at 16,450, while rival Sampoerna dropped 50 rupiah at 7,550.
Carmaker Astra dropped 100 rupiah at 10,200 rupiah.
Bank Mandiri rose 10 rupiah at 1,780, while rival Bank Rakyat Indonesia was down 25 rupiah at 2,825.