Analyst Purwoko Sartono said the domestic market is still shadowed by worries about cut in US financial policy program in a bid to boost the economic growth.Jakarta (ANTARA News) - The composite index of the Indonesian Stock Exchange (BEI) dropped 9.92 points in the opening session on Monday on absence of positive sentiment.
The BEI index fell 0.19 percent to 5,145.18 points with the index of 45 most liquid stock (LQ45) down 2.49 points or 0.29 percent to 867.15 points.
"The majority of markets in Asia including BEI opened with index falling on minimum positive sentiment," Samuel Sekuritas` analyst Yualdo Yudoprawiro said here on Monday .
Yualdo said the condition encouraged profit taking by the market players, who holds shares recording an increase in price last weekend.
"Among the stocks are property, palm oil and automotive companies," he said.
Panin Sekuritas` analyst Purwoko Sartono said the domestic market is still shadowed by worries about cut in US financial policy program in a bid to boost the economic growth.
"Therefore, the BEI index is expected to hover at lower range of 5,130 to 5,170 points today. Investors also tend to wait for the government announcement of its plan to raise oil fuel price hike," Purwoko said.
Regional markets such as Hang Seng recorded an increase of 0.03 percent in index to 22,624.75 points, Nikkei-225 recorded a decline of 2.71 percent in index to 14,215.74 points, and Straits Times gained 1.81 point or an increase of 0.08 percent in index to 3,396.17 points.(*)
Editor: Heru Purwanto
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