"The upward move of the BEI index was curbed with the rupiah weakening against the US dollar," Trust Securities` chief researcher Reza Priyambada said.
Jakarta (ANTARA News) - The Jakarta composite share price index fell 0.12 percent to 4,329.55 points with index of 45 most liquid stocks down 0.14 percent to 722.59 points.

The index of the Indonesian Stock Exchange (BEI) opened 5.25 points lower from 4.334.80 points in Mondays closing on pressure by the rupiah fall in value against the US dollar.

"The upward move of the BEI index was curbed with the rupiah weakening against the US dollar," Trust Securities chief researcher Reza Priyambada said.

Meanwhile positive sentiments were limited in global market prompting investors to sell shares, Reza said.

He said , however, the BEI index could still gain and move upward though slightly .

"The BEI index is expected to move around 4,300--4,367 points on Tuesdays trading," he predicted.

A team of technical analysts from Mandiri Sekuritas said investors expect window dressing sentiment that could keep the BEI index in the positive area .

However, reports that the Fed could start cutting its financial stimulus next month could trigger capital flights.

"Therefore, the BEI index could move mixed in short term consolidation phase around 4,300--4,406 points in the next several weeks," it said .

Regional markets such as Hang Seng recorded a 0.13 percent increase in index to 23,715.65 points with Nikkei-225 index down 0.75 percent to 15,501.56 points and that of Straits Times down 0.17 percent to 3,175.26 points.

Meanwhile, in inter-bank transactions, rupiah lost 216 points against the US dollar to trade at the level of 11,738 per dollar in the first minutes of trading on Tuesday.

Zulfirman Basir, a financial market analyst from Monex Investindo Futures, said the rupiah value tended to decline ahead of the publications of the Indonesian economic data in December.

"Investors in the financial market in the country were still worried with the countrys trade deficit, high inflation and economic slow down ," Zulfirman said .

He predicted that rupiah would trade around 11,625-11,895 per dollar on Tuesday.(*)

Editor: Heru Purwanto
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