Jakarta Stocks

Jakarta Stocks

Indonesian shares ended lower Monday led by selling in cigarette issues, but mild bargain-hunting in select blue chips lifted the main index from its intraday low, dealers said.

Overall sentiment remained weak following another disappointing performance on Wall Street Friday, they added.

The JSX Composite Index ended down 1 percent, or 4.033 points, at 410.394, up from its intraday low of 403.318.

Decliners led gainers 76 to 17, with 82 stocks unchanged.

Volume was relatively light at 270 million shares valued at Rp 311 billion ($1=IDR9,492).

Friday, the Dow Jones Industrial Average fell 140.4 points, or 1.7 percent, at 8235.81, and the Nasdaq Composite Index finished down 47.74 points, or 3.25 percent, at 1423.19.

Cigarette blue chips led the losses.

Cigarette maker Gudang Garam ended down 1.4 percent, or Rp 150, at Rp 10,500, but up from its intraday low of Rp 10,150.

Garam's rival HM Sampoerna lost 4.6 percent, or Rp 160, at Rp 3,300 on a profit-taking and after a 5-for-1 stock split.

Telkom rebounded from its intraday low of Rp 2,925 to end unchanged at Rp 2,975. International call operator Indosat also ended unchanged at Rp 8,150.

Shares in oil producer Medco Energi bucked the trend on speculation that it will book higher earnings during the second half of the year due to higher oil prices in the wake of possible U.S. retaliation against the recent terrorists attacks. Medco was up 1.9 percent, Rp 25, at Rp 1,325.