Analyst saud fear of the Fed reducing its US$85 billion-a-month bond buying program still had strong pressure on the domestic stock market.Jakarta (ANTARA News) - The Jakarta composite share price index fell 0.29 percent in the opening trade on Friday on market players still worried over possible US central bank stimulus tapering off.
The index of the Indonesian Stock Exchange opened 12.35 points lower at 4,221.57 points with the index of 45 most liquid stocks down 0.47 percent to 699.06 points.
Head of Research of Valbury Asia Securities, Alfiansyah, said fear of the Fed reducing its US$85 billion-a-month bond buying program still had strong pressure on the domestic stock market.
"Significant improvement in the US economic data, deficits in Indonesias trade balance and balance of payments added to the pressure on the domestic market," Alfiansyah said.
In addition, there is growing demand for the US dollar toward the end of the year, he added.
Inflation, which is expected to be stable is expected to give a positive sentiment to the domestic market, he said.
Bank Indonesia estimated the countrys inflation month-month is 0.05 - 0.1 percent in November.
Regional markets such as Hang Seng recorded a 0.16 percent increase in index to 23,828.31 points with Nikkei-225 index down 0.02 percent to 15,723.48 points and that of Straits Times falling 0.34 percent to 3,175.52 points.
Meanwhile rupiah was flat at the level of 12.018 per dollar in interbank transaction in the first minutes of trading on Friday. (*)
Editor: Heru Purwanto
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