Jakarta (ANTARA News) - The Jakarta composite index closed 0.16 lower on Friday on profit taking prompted by new wave of conflict in Iraq, analysts said.

The index of the Indonesian Stock Exchange slipped 7.74 points to 4,926.66 points with index of 45 most liquid stocks down 0.22 to 832.66 points.

Asjaya Indosurya Securities analyst William Surya Wijaya said the JCI fell amid increase recorded by other regional markets because of profit taking prompted by fear of the effect of the Iraqi conflict .

The conflict is potential to trigger a surge in oil prices in the world market, William said.

However, continued inflows of foreign capital into the domestic market curbed the share prices from falling lower, he said.

"Foreign investors still buy shares preventing the JCI from shrinking lower," he said.

Trade on Friday was still marked with foreign net buy of Rp696.473 billion.

There were 148,659 transaction recorded in Fridays trade with 2.26 billion share valued at Rp2.97 trillion changing hands, and gainers outnumbered by decliners by 124 to 149

Regional markets such as Hang Seng, Nikkei and Straits Times recorded an increase in index. (*)

Editor: Heru Purwanto
Copyright © ANTARA 2014