JP\/18\/Stock<\/p>\n
Shares end sharply lower<\/p>\n
Indonesian shares ended sharply lower Wednesday as worries
\ngrew that there would be more demonstrations in the capital if
\nthe U.S. attacked Afghanistan, dealers said.<\/p>\n
The JSX Composite Index fell two percent, or 8.069 points, to
\n401.018. However, it was up from its intraday low of 397.558, the
\nlowest intraday low since June 11.<\/p>\n
Decliners led gainers 127 to 14, with 56 stocks unchanged.
\nVolume was relatively light at 357 million shares valued at Rp
\n307 billion.<\/p>\n
Wednesday, militant groups in several big Indonesian cities
\ndemonstrated, demanding the U.S. not attack Afghanistan in
\nretaliation for the Sept. 11 terrorist attacks.<\/p>\n
Dealers said the rupiah's weakness against the U.S dollar
\ndiscouraged investors from buying.<\/p>\n
The dollar was trading at Rp 9,628, compared with Rp 9,493
\nlate Tuesday in Asia.<\/p>\n
\"We had tons of negative sentiment here,\" said a trader with a
\nEuropean bank, adding that falls on several regional bourses also
\nweighed on sentiment.<\/p>\n
Dealers said telecommunications and cigarette blue chips led
\nlosers.<\/p>\n
Market bellwether Telekomunikasi Indonesia ended down 3.4
\npercent, or Rp 100, at Rp 2,950 and international call operator
\nIndosat lost 1.2 percent, or Rp 100, at Rp 7,950.<\/p>\n
A dealer with a local brokerage said investors sold shares in
\ncigarette companies on speculation that they will book flat to
\nlower earnings this year due to the higher excise tax on
\ncigarettes and increased raw material costs.<\/p>\n
Dealers said they expect the market to remain lower Thursday
\non continued selling in blue chips and expectations that the
\nrupiah would weaken further.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/jp18stock-1447899208",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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