JAKARTA (Yosefardi) – Investors focused selling shares of PT Telekomunikasi Indonesia Tbk (TLKM), affecting the stock to drop by 4.4% to Rp2,175 per share 30 minutes ahead of market close Wednesday (Nov 20).
While composite index of the Indonesia Stock Exchange (IDX) fell 1.3% to 4340. Also dragged down the index were Perusahaan Gas Negara (-3%), Bank Rakyat Indonesia (-3.2%), and Bank Negara Indonesia (-2.2%).
Asian shares mostly tracked Wall Street stocks lower on Wednesday but dovish comments from Federal Reserve Chairman Ben Bernanke helped to limit their losses, lifting commodity prices, and putting pressure on the dollar, Reuters reported.
Market players now have a concern on local telecommunication operators after the wake of alleged wiretapping by Australian spy agency on the phone communication by President Susilo Bambang Yudhoyono, First Lady Ani Yudhoyono, and some cabinet members.
The technology of phone communication served by local operators are open for any kind of interception as they do not adopt encription-based technology.