"Market players tended to sell shares as the condition not yet conducive in Asian markets that the BEI index extended losses," analyst Reza Priyambada said.Jakarta (ANTARA News) - Jakarta composite share price index continued to be on the decline closing 48.87 points on Monday to follow the regional trend.
The index of the Indonesian Stock Exchange closed at the level of 4,125.96 points or down 1.18 percent with the index of 45 most liquid stocks falling 1.55 percent to 680.98 points.
"Market players tended to sell shares as the condition not yet conducive in Asian markets that the BEI index extended losses," chief researcher of Trust Securities, Reza Priyambada, said here on Monday.
Issue of the Feds financial stimulus tapering remain the main negative sentiment keeping the BEI index from positive area, Reza said.
"Most market players chose to restrain action ahead of the meeting this week of the Federal Open Market Committee (FOMC),"he said.
Head of Research of Valbury Asia Securities, Alfiansyah, said the attentions of most market players were drawn to the FOMC meeting on Dec. 17-18 hoping to get signal of the stimulus policy.
A statement by the Fed on the time of tapering off could reduce speculations in the share and financial markets, Alfiansyah said
"Regardless of external sentiments, Indonesia needs to improve its competitiveness especially in the real sector to strengthen its long term fundamentals," he said.
BEI recorded 90,824 transactions in Mondays trading with 4.88 billion shares worth Rp6.29 trillion changing hands.
Regional markets such as Hang Seng fell 0.56 percent in index to 23,114.66 points with Nikkei-225 index down 1.62 percent to 15,152.91 points and that Straits Times declining 0.33 percent to 3,055.83 points.(*)
Editor: Heru Purwanto
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