Indonesian shares end 1.9 percent Lower On Selling In Blue Chips

Indonesian shares end 1.9 percent Lower On Selling In Blue Chips

JAKARTA (Dow Jones) : Indonesian shares ended lower Friday on selling across the blue-chip board, amid concerns over retaliatory action by the U.S. after last week's terrorist attacks, dealers said.

Declines in regional equity markets also added to negative sentiment, they added.

The JSX Composite Index ended down 1.9%, or 7.919 points, at 414.427, slightly up from its intraday low of 413.052. Decliners led gainers 98 to 25 with 53 stocks unchanged.

Volume was thin at 367 million shares valued at Rp343 billion.

"Selling was in every counter," said a trader with a local brokerage firm, adding that a slight rebound of the rupiah against the U.S dollar failed to prop up sentiment.

The dollar was trading at Rp 9,400, compared with Rp 9,470 late Thursday in Asia.

Telecommunication and cigarette blue chips led the falls.

Market bellwether Telekomunikasi Indonesia lost 3.3%, or Rp 100, to Rp 2,975, and international call operator Indosat was down 3%, or Rp 250, at Rp 8,150.

Cigarette maker Gudang Garam dropped 3.2%, or Rp350, to Rp10,650, and its rival HM Sampoerna slipped 0.3%, or Rp50, to IDR17,300.

Agricultural concern Astra Agro Lestari bucked the trend, rising 2%, or Rp25, to Rp1,300, on renewed speculation it is a takeover target of a local food company.

Dealers expect the market to remain lower Monday.