RI shares end lower on weak rupiah, Asian markets<\/p>\n
Dow Jones, Jakarta<\/p>\n
Indonesian shares ended lower Monday on swift profit-taking,
\nwith sentiment hurt by the weak rupiah and losses on most Asian
\nmarkets, dealers said.<\/p>\n
\"We ran out of positive factors,\" said a trader with Paramitra
\nSecurities.<\/p>\n
The Jakarta Stock Exchange Composite index ended down 4.239
\npoints, or 0.5 percent, at 815.582, down from an intraday high of
\n822.684. The main index Friday gained 0.4 percent on a rebound.<\/p>\n
Decliners led gainers 74 to 34, with stocks unchanged.<\/p>\n
Volume was 348 million shares valued at Rp 856 billion
\n(US$93.2 million).<\/p>\n
The U.S. dollar was trading higher at Rp 9,180, compared with
\nRp 9,115 at Friday's close, as local companies are buying the
\nU.S. currency to pay offshore obligations by the end of the
\nmonth.<\/p>\n
Bank blue chips were among the decliners amid renewed concerns
\nthat the central bank may raise interest rates to defend the
\nrupiah.<\/p>\n
Bank Mandiri fell Rp 25, or 1.7 percent, to Rp 1,450, Bank
\nCentral Asia lost Rp 50, or 2.4 percent, to Rp 2,000 and Bank
\nRakyat Indonesia ended down Rp 25, or 1.3 percent, to Rp 1,900.<\/p>\n
Profit-taking also hit shares in Indonesian Satellite Corp.,
\ndown Rp 50, or 1.2 percent, to Rp 4,250, and cement maker
\nIndocement Tunggal Prakarsa, which fell Rp 25, or 1.3 percent, to
\nRp 1,975.<\/p>\n
Carmaker Astra International bucked the trend, gaining Rp 50,
\nor 0.8 percent, to Rp 6,750 on a rebound.<\/p>\n
Dealers said they expect the market Tuesday to trade slightly
\nlower on further profit-taking.<\/p>\n
Meanwhile, the rupiah closed lower in choppy trading Monday as
\nlocal companies bought the dollar to pay maturing month-end
\noffshore obligations, dealers said.<\/p>\n
The dollar closed at Rp 9,180, up from its close Friday at Rp
\n9,115.<\/p>\n
Dealers said that bids from local companies pushed the U.S.
\nunit to as high as Rp 9,200 intraday. Some investors, however,
\nsold the dollar after it touched the day's high as underlying
\nsentiment was positive following the smooth conduct of the
\npresidential poll last week.<\/p>\n
\"The dollar was stuck in a range-bound trading today,\" a
\ndealer said.<\/p>\n
Fears that the bird flu may have mutated and spread among
\nhumans in Thailand also supported the dollar, dealers said.<\/p>\n
Dealers said that demand from local companies might continue
\nrising till the end of the month, which could push the dollar
\nhigher.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/ri-shares-end-lower-on-weak-rupiah-asian-markets-1447893297",
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"sponsor": "Okusi Associates",
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