It dropped 71.38 points to 3,850.27. The index of 45 blue chips (LG45) meanwhile also slid 11.35 points or 1.64 percent to 681.95.
"The decline in IHSG was held to go further by foreign capital that was seen entering again although much of it has also left the share market. It was also helped by positive markets in Europe," analyst from Monex Investindo Futures Ariston Tjendra said here on Monday.
He said the regional market was corrected due to pessimism of US investors after manufacturing data showed lower than expected figures in July and the downgrading of US debt rating to AA+ from formerly triple A.
He said the price of shares in the domestic market which was still considered high had been the driving force behind the decision of market players to conduct profit taking.
"Right now the profit taking is still ongoind but the correction has been suspended because Indonesia`s economy i still considered positive. The drop of the IHSG is also considered minimum compared to that in other Asian countries," he said.
He said the world oil price has also been corrected by around three percent to US$84.1 per barrel and it is predicted it will still decline further to US$79 per barrel.
"The price of oil is also depressed adding to negative sentiment so that the regional markets remain negative," he said.
Foreign net sell on Monday reached Rp1.136 trillion. Out of total shares traded that day 54 recorded a hike in price, 239 depressed and 56 remained the same.
Trading was recorded at 216,771 times with a volume of 9.832 billion worth Rp9.474 trillion.
Hang Seng index was down 455.57 points (2.17 percent) to 20.490.57 while Nikkei-225 202.32 points (2.18 percent) to 9,097.56 and Straits Times 110.78 points (3.70 percent) to 2,884.00.
(Uu.H-YH/HAJM/A014)
Editor: Priyambodo RH
Copyright © ANTARA 2011
