REPUBLIKA.CO.ID, JAKARTA -- The Jakarta composite index (JCI) closed lower on Wednesday on profit taking by foreign investors to follow report that the Fed would raise its fund rate.
The index of the Indonesian Stock Exchange (BEI) fell 42.15 point or 0.77 percent to 5,415.48 points with index of 45 most liquid stocks down 0.89 percent to 939.37 points.
"Profit taking by investors weighed on the JCI with expectation that the Fed would raise its fund rate to follow improvement of the US economic data," analysts said.
Asjaya Indosurya Securities' analyst William Surya Wijaya said that the JCI is still in the process of consolidation.
"The JCI strength to rise has not changed," he said.
Transactions in the domestic market totaled 229,947 with 5.18 billion shares valued at Rp5.50 trillion changing hands.
Decliners outnumbered gainers by 246 to 85 shares with 76 shares remaining flat.
Regional markets such as Hang Seng, Nikkei and Straits Times gained recording an increase in index.
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