Jakarta shares close sharply lower as US subprime fear persists |
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Tue, 14 Aug 2007 10:28
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JAKARTA (Thomson Financial) - Indonesian shares closed sharply lower Tuesday as investors scaled back their holdings of shares ahead of the long holiday weekend amid lingering concerns over the US subprime lending problems.The local market will be closed on Friday for the Indonesian Independence Day holiday.Key losers included Bank Rakyat Indonesia (BRI), Bank Negara Indonesia (BNI) and small-cap stock Agis.The composite index closed down 42.82 points or 1.9 percent at 2,168.64. Volume totaled 2.5 billion shares worth 2.5 trillion rupiah.The LQ45 index was down 7.99 points at 451.44.Decliners led advancers 167 to 26, while 42 stocks were unchanged.The Indonesian rupiah was trading at 9,355/9,360 to the US dollar, slightly weaker than 9,340/9,345 late Monday.( 1 US dollar = 9,348 rupiah)aloysius.bhui@thomson.comaloPlease write your own byline and save in your preferencesab/clCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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