The IHSG closed down 30.45 point, or 0.60 percent to 5,073.06, while the index of the 45 most liquid stocks (LQ45) dropped 5.16 points (0.60 percent) to 862.55.
HD Capital analyst Yagunar Wijanarko said domestic market players tended to seek profit taking while anticipating possible hikes in subsidized fuel prices.
"Market players are anticipating fuel price hikes early in November, and other domestic sentiments," he said.
He said pressure on the Indonesia Stock Exchange index had occurred because of a technical factor, referring to hikes in the index in the past few days that have driven market players to assume a profit taking position.
"Saturated buying at the stock exchange has led to daily profit taking," he noted.
Further, he said market players could use the momentum of a decline in the index to again accumulate their shares, as late fuel price hikes would offer a positive impact as they reduce the budget deficit.
Among those stocks to watch early next week included Vale Indonesia Tbk. (INCO), Charoen Pokphand Indonesia Tbk, (CPIN), Perusahaan Gas Negara Tbk.(PGAS) and Malindo Feedmill Tbk. (MAIN).
A total of 184, 694 transactions were made in share trading on the Indonesia Stock Exchange (BEI) regular market involving 4.17 billion shares valued at Rp4.80 trillion.
On regional markets, the Hang Seng index was down 30.98 points (0.13 percent) to 23,302.20, the Nikkei dropped 152.68 points (1.01 percent) to 15,291.64 and Straits Times declined 11.51 points (0.30 percent) to 3,225.21. (*)
Editor: Heru Purwanto
Copyright © ANTARA 2014
