Technical factor put pressure on the JCI. We see profit taking after JCI has increased in the past several days."Jakarta (ANTARA News) - The Jakarta composite index (JCI) closed 0.33 percent lower on profit taking on Monday, analysts said.
The index of the Indonesian Stock Exchange (BEI) fell 16.58 points to 5,014.99 points with index of 45 most liquid stocks down 0.17 percent to 857.37 points.
"Technical factor put pressure on the JCI. We see profit taking after JCI has increased in the past several days," HD Capitals analyst Yuganur Wijanarko said .
However, the index correction on Monday could be attract investors back to the market to buy selected shares, Yuganur said.
He predicted property shares like Alam Sutera Realty (ASRI) and Bumi Serpong Damai (BSDE), Astra International (ASII), and , Bank Pembangunan Daerah Jawa Barat dan Banten (BJBR) would increase on Tuesday.
Sasjaya Indosurya Securities analyst William Surya Wijaya said inflows of foreign fund into the domestic market kept the JCI from shrinking deeper.
"The inflows are still strong and the trend is expected to continue with the high confidence in Indonesian economy," William said.
According to BEI data foreign investors still bought more than selling shares resulting a foreign net buy of RP2.417 trillion on Monday.
There were 272,437 transactions in the trade on Monday with 4.69 billion shares valued at Rp8.03 trillion changing hands.
Gainers, however, were outnumbered by decliner by 88 to 241 with 76 share flat.
Regional markets such as Hang Seng recorded a 0.04 percent fall in index to 22,704.50 index with Nikkei index down 0.64 percent to 14,006.44 and that of Straits Times falling 0.16 point to 3,262.43 points.
(Uu.H-ASG/A014)
Editor: Priyambodo RH
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