Indonesian shares prices closed 0.47 percent lower on Wednesday in cautious trade on the eve of the release of January inflation data, dealers said.
The Jakarta Stock Exchange composite index closed down 8.264 points at 1,757.258 on volume of 1.98 billion shares worth 2.33 trillion rupiah (255.90 million dollars). Declines led advances 86 to 68, with 50 stocks unchanged. The rupiah was trading at 9,100/9,105 to the dollar against 9,095/9,100 late Tuesday.
"Market sentiment was dented by the inflation concerns as well as weakness in some other markets in the region," said Nico Suherman, an analyst with Panin Securities.
He said investors were also concerned inflationary pressure in January could linger through into February. Analysts have expressed concerns about firm goods prices, particularly food. Telephone operator Telkom led the index fall, closing down 100 rupiah at 9,450.
Dealers said the selling pressure on Telkom was partly triggered by the company's announcement Tuesday that it will sell 51 million shares to its employees and management via stock options.
Its rival Indosat also fell 100 to 6,000. Among other losers, Astra International was down 150 at 14,850, Bank Mandiri was 25 lower at 2,575, Bank Rakyat Indonesia slipped 50 to 5,300 and Bank Danamon fell 150 to 5,900.
Perusahaan Gas Negara was down 50 at 9,400 and INCO dropped 1,200 to 33,000. Bucking the trend, tin miner Timah rose 550 to 7,850 amid recent strength in global tin prices.
United Tractors was up 100 at 6,750 following news that its wholly-owned unit Pamapersada Nusantara has acquired five mining and coal trading firms for 34 million dollars. Energi Mega was up 30 at 610 on news that it has started commercial oil output from its Sepanjang Island oil field.