Lower growth of Chinese manufacturing industry is feared to cause global economic slowdown resulting in share price fall."Jakarta (ANTARA News) - The Jakarta composite index closed lower on Monday on expectation of global economic slowdown, analysts said.
The index of the Indonesian Stock Exchange closed 36.01 points or 0.78 percent lower at 4,584.21 points with index of 45 most liquid stocks down 0.90 percent to 769.77.
"Lower growth of Chinese manufacturing industry is feared to cause global economic slowdown resulting in share price fall," Trust Securities analyst Yusuf Nugraha said here on Monday.
Yusuf said deficit in trade in January because of high import of oil and falling exports, served a negative sentiment to the market.
Exports shrank as a result of the export restriction on mineral ores effective as from January, 12.
Inflation, however, was relatively low at 0.26 percent in February .
"Increase inflation was in line with the market expectation providing one of the positive factors preventing the BEI index from falling deeper," Yusuf said.
There were 180,272 transactions at BEI with 2.89 billion shares worth Rp3.89 trillion changing hands on Monday trading.
Gainers were outnumbered by decliners by 96:207 with 89shares unchanged.
Regional markets such as Hang Seng recorded a 1.47 percent fall in index to 22,500.67 points with Nikkei index down 1.27 percent to 14,652.23 and that of Straits Times weakening 0.87 percent to 3,082.42.
(Uu.H-ASG/A014)
Editor: Priyambodo RH
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