The index of the Indonesian Stock Exchange (BEI) fell 4.74 points or 0.09 percent to 5,123.19 points with index of 45 most liquid stocks down 0.14 percent to 880.04 points.
"The rally in the wake of the BBM price hike was halted in todays trading with worries over possible short term economic slowdown as a result of the BBM price rise," Head of Research of Valbury Asia Securities Alfiansyah said .
In addition there is new reason for concern in the market with talks of interpellation at the House of Representatives over the governments decision to raise the BBM price, Alfiansyah said .
Externally, the share price fall in the United States on Wednesday night added tyo the negative sentiment on the domestic market, he said.
Chief researcher of Woori Korindo Securities Indonesia Reza Priyambada said profit taking by some market players after several days of gain contributed to the JCI fall.
"The BBM euphoria is receding prompting profit taking by some market players," Reza said.
Regional markets such as Hang Seng and Nikkei recorded gain in index but Straits Times opened lower .
Meanwhile, rupiah also lost value against the U.S. dollar in the opening trade .
The currency traded at the level of 12,154 per dollar weakening from 12,142 earlier.
Economist Rangga Cipta of Samuel Sekuritas said after gaining in the wake of the BBM price hike, rupiah began to weaken on regional sentiment of dollar rise in Asian market.
Rupiah fall , however, was the slightest against the U.S. dollar in Asia as rupiah was still propped up by the BBM euphoria , Rangga noted.
He said the US dollar gained strength with the improvement of U.S. construction data.
In addition , there was unfavorable expectation of Chinese manufacturing data , he said.(*)
Editor: Heru Purwanto
Copyright © ANTARA 2014
