The index of the Indonesian Stock Exchange opened 0.39 percent lower at 4,655.52 points with index of 45 most liquid stocks down 0.49 percent to the level of 789.91.
Samuel Sekuritas` analyst Yualdo Yudoprawiro said the market players sold shares to take profit after significant share price hike on Thursday and negative sentiment with rupiah fall at the market of non deliverable forward (NDF).
He predicted construction, property, banking and cement stocks which gained on Thursday would weaken on profit taking on Friday.
Head of Research of Valbury Asia Securities Alfiansyah said investors would take advantage of the euphoria after the The Fed`s decision to continue with its program of quantitative easing, further driving the BEI index higher on Friday.
Regional markets such as Hang Seng recorded a 1.67 percent rise in index to 23,502.51 points with Nikkei-225 index up 0.21 percent to 14,795.65 points and that of Straits Times down 0.39 percent to 3,005.58 points.
Meanwhile, the country`s currency rupiah remained flat against the US dollar in the first minutes of trading on Friday.
Rupiah traded at the level of 10,855 per US dollar in inter-bank transactions .
The result of the meeting of The Fed had strengthened the rupiah and reached stability below 11,000 per dollar, Reza Priyambada, chief researcher of Trust Securities, said here on Friday.
With the decision of The Fed, demand for the US dollar considered as a safe haven would decline and dollar reserve would increase resulting in falling value of the currency.
Alfiansyah said increase in rupiah value and relatively high interest rate would attract investors to the domestic financial market, adding "especially with the government plan to issue retail bonds with a coupon rate of 8.5 percent."
He said Indonesia should no longer depend on foreign funds or hot money to boost economic growth and maintain its stability .
Domestic potentials and resources should be generated and developed to better protect the country`s economy from global crisis, he added.
Editor: AA Ariwibowo
Copyright © ANTARA 2013
