Indonesian share prices closed 0.88 percent lower on Friday on extended profit-taking led by index heavyweight Astra International, dealers said. The Jakarta Stock Exchange composite index dropped 12.554 points to 1,416.930 on volume of 1.78 billion shares worth 1.75 trillion rupiah (191.78 million dollars).
Declines led advances 58 to 41, while 65 stocks were unchanged. The rupiah was at 9,130-9,135 compared to Thuursday's close of 9,135-9,145 "Almost all major stocks that posted gains during the market's recent rally have now lost ground in the past two days," said Ryan Ariadi Suwarno, an analyst with Dongsuh Kolibindo. "I think the correction may continue next week until the index hits the 1,400 points support level," he said.
Among blue chip stocks, Astra International fell 450 rupiah at 10,955 and subsidiary unit United Tractors also dropped 250 to 5,600. Telkom was down 100 at 7,800 while long distance operator Indosat was flat at 4,850. State gas firm PGN fell 200 at 12,450 but cigarette maker Gudang Garam gained 50 at 9.500. Bank Mandiri was down 75 at 2,075 and foodmaker Indofood also weakened 20 at 1,140.