The LQ45 index of blue chips also dropped 18.57 points or 3.15 percent to 574.15.
Abidin, a stock market analyst of Milenium Danatama Sekuritas said global market players remained worried over the conditions of the global economy.
He said conditions right now had pushed investors, especially foreign ones, to exit the market to safeguard their assets and shift them to a safer haven.
"The slowdown in the global economy has made foreign market players exit the stock market and shift their funds to a safer haven such as the US dollar," he said.
He said after being pressured strongly at the start of trading on Monday. the index rebounded a while and recorded a hike despite continuing selling pressures from foreign investors.
He said worries over global economic conditions had made investors conduct selling. Besides that he said investors had also been disappointed by the performance of European leaders that have been considered not settling problems in Greece, a condition that creates a catalyst for the IDX index to drop.
Early this week, he said, the IDX index weakened quite significantly, triggered by foreign net buying worth Rp114.927 trillion.
Transactions that day were recorded at 166.292 with the volume reaching 5.381 billion worth Rp5.572 trillion.
Twenty-five shares rose while 263 were up and 35 remained unmoved.
Regional markets also dropped that day with Hang Seng down 261.03 points (1.48 percent) to 17,407.80, Nikkei-225 down 186.13 points (2.17 percent) to 8,374.15 and Strait Times down 39.40 points (1.43 percent) to 2,660.33. (*)
Editor: Heru Purwanto
Copyright © ANTARA 2011
