Indonesia share prices are expected to continue their downward trend over the coming week amid concerns of rising US interest rates and a weakened rupiah, analysts said.
"It appears that selling pressure from the foreign side is still there, it could be possible that the next week the stock market is under selling pressure," said David Chang, chief analyst from UOB K Hian Securities. He said Jakarta's bourse was highly vulnerable to regional reactions to US interest rates and foreign buyers were also concerned about the falling rupiah.
At close of trade Friday, the rupiah was at 9,190/9,200 to the dollar, compared to May 12 close of 8,730/8,735. Automaker Astra's stocks had climbed Friday, but this was just a correction from Thursday's selling and few stocks were expected to do well over the coming week, said Chang.