Indonesian shares closed 0.7 percent lower on Monday, weighed down by falls in most Asian markets amid renewed concerns over the US financial rescue plan, dealers said. The Jakarta Composite Index slipped to 1,832.50 in thin volume, off an intraday low of 1,821.30.
The rupiah was weaker at 9,445 to the dollar, compared to 9,405 at the last close. "Cash is king and more investors prefer to stay in cash ahead of the long holiday," a trader told Dow Jones Newswires. Indonesian markets will be closed for the rest of week for Eid-ul-Fitr, the end of the Ramazan holy month. Coal miner Bumi Resource fell 5.9 percent to 3,200 rupiah, Bukit Asam dipped 6.0 percent to 9,350 and consumer goods producer Unilever dropped 4.5 percent to 7,500.