The index of the Indonesian Stock Exchange (BEI) fell 67.08 points or 1.46 percent to 4,525.91 with index of 45 most liquid stocks down 1.24 percent to 782.20 points.
The majority markets in Asia recorded a decline in index prompting share sell off putting pressure on the JCI, chief researcher of the Universal Broker Indonesia Satrio Utomo said .
The JCI gained in mid day trading but report of sharp fall of share prices in Chinese markets sent the index to the negative territory.
Satrio, however, predicted that the JCI would return to the positive area as foreign investors still showed interest in collecting more shares.
The trade data showed foreign net buy at Rp84.197 billion on Monday, and there were 179,722 transactions with 2.13 billion shares valued at Rp2.80 trillion changing hands.
Gainers were outnumbered by decliners by 77 to 94 shares with 218 shares unchanged.
Regional markets such as Hang Seng, Nikkei and Straits Times recorded a decline in indices.
Meanwhile, the countrys currency rupiah closed weaker on Monday trading at the level of 13,925 per U.S. dollar from the earlier level of 13,830.
"It seems the United States would again draw the spotlight early this year as the dollar would rise with the commodity price expected to fall still lower," PT Platon Niaga Berjangka analyst Lukman Leong said.
Other factors having impact on the market include Chinese economic slowdown and the European Central Market relaxing its program of financial stimulus.
In addition, the market would likely follow the plan of the U.S. central bank (The Fed) to raise its fund rate again by phases.
Meanwhile, this year the United States would hold general election that has always resulted in dollar appreciation.(*)
Editor: Heru Purwanto
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