JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) ended lower 0.4% at 4965 Monday (November 10) with profit taking hit some stocks. The index gained at morning trade, reaching its high at 5008.
While Asian shares gained on Monday after sound U.S. data.
Astra International dropped 3.2%, Bank Central Asia fell 1.18%, BW Plantation lost 2.8%, Vale Indonesia declined 2.1%, and Perusahaan Gas Negara shed 1.27%.
Other losers were Waskita Karya (-1.04%), Aneka Tambang (-1.07%), Matahari Putra Prima (-2.64%), Bank Bukopin (-1.3%), Visi Media (-1.54%), Bumi Resources Minerals (-1.13%), and Berau Coal (-2.25%).
Among gainers were Bank Mandiri (+1.23%), Bumi Resources (+2.33%), Lippo Karawaci (+1.49%), Adhi Karya (+2.65%), and Multipolar (+1.13%).
Investor concern over the planned hike of subsidized fuel price. The release of economic data for third quarter of this year also disappointed the market.
Finance Minister Bambang Brodjonegoro said the government will cut state spending to prevent the widening budget deficit due to expected higher tax shortfall this year.
Nymex’s crude oil rose 0.7% to US$79.19 per barrel and gold increased 0.14% to US$1,171.40 per ounce. The rupiah strengthened to Rp12,138 against the US dollar.