"The majority Asian market recorded a decline in index on expectation that the Fed would reduce its stimulus of bond buying program," analysts said.Jakarta (ANTARA News) - The Jakarta composite share price index extended a declining trend opening 0.53 percent lower on Wednesday to follow the regional trend.
The index of the Indonesian Stock Exchange (BEI) fell 22.73 points to 4,266.04 points with index of 45 most liquid stocks down 0.81 percent to 708.27 points.
"The majority Asian market recorded a decline in index on expectation that the Fed would reduce its stimulus of bond buying program," analysts said.
Bertoni Rio, an analyst from Anugerah Sekurindo Indah, said the domestic positive sentiment with the trade surplus in October was short lived.
"The attentions of the market players are drawn again more to the further step to be taken by the US Federal Open Market Committee (FOMC)," Bertoni said.
However, technically , the BEI index could regain strength amid the negative sentiments, he said, predicting the index would move around 4,260--4,320 points on Wednesday.
Regional markets such as Hang Seng recorded a 0.87 percent decline in index to 23,702.10 points with Nikkei-225 index down 2.46 percent to 15,361.66 points and that of Straits Times falling 0.27 percent to 3,179.15 points.
Meanwhile, in inter-bank transactions , rupiah hardly moved from the level of 11,882 per US dollar .(*)
Editor: Heru Purwanto
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