The weak IHSG is the result of investors' profit-taking ahead of the long weekend. The benchmark interest rate, which remains unchanged, has satisfied the market expectation
Jakarta (ANTARA) - The Jakarta Composite Share Price Index (IHSG) closed lower on Wednesday evening due to profit-taking by investors.

The composite index of the Indonesian Stock Exchange (BEI) fell 22.36 points, or 0.42 percent, to touch 5,272.81, while the index of the 45 most liquid stocks dropped 4.18 points, or 0.5 percent, to reach 834.84.

"The weak IHSG is the result of investors' profit-taking ahead of the long weekend. The benchmark interest rate, which remains unchanged, has satisfied the market expectation," Indo Premier Sekuritas analyst Mino said in Jakarta on Wednesday.

The IHSG weakened in less than one hour after opening higher in the morning. It continued to stay within the red zone until the close of trading.

On a sectoral basis, shares from eight sectors saw a correction, with the various industrial sector shares recording the deepest decline at minus 1.19 percent, followed by the basic industrial sector and the manufacturing sector at 1.1 percent and 0.93 percent, respectively.

Meanwhile, the trade sector and the mining sector increased 0.25 percent and 0.09 percent, respectively.

Based on data from BEI, the net foreign buy reached Rp325.62 billion in Wednesday's trading.

Trade frequency was recorded at 669,212 transactions, with 12.7 billion shares, worth Rp8.01 trillion, changing hands on Wednesday.

There were 162 gainers against 243 decliners, and 172 shares remained unchanged.

Among regional markets, the Nikkei index strengthened 70.52 points, or 0.31 percent, to 23,110.61; the Hang Seng index fell 188.47 points, or 0.74 percent, to 25,278.91; and, the Straits Times index tumbled 3.17 points, or 0.12 percent, to 2,559.92.

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Translator: Citro Atmoko/Suharto
Editor: Rahmad Nasution
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