- AP Photo/David Karp
VIVAnews - The composite stock price index in the Indonesia Stock Exchange (IDX) today was significantly corrected by 152.9 points (4.21 percent) to 3,478.55, Jan 10, 2011.
Foreign investors in the regular market bought Rp2.28 trillion worth of shares while sales reached Rp3.92 trillion.
Chief of Research at PT Recapital Securities, Pardomuan Sihombing, said investors were into profit taking because of the negative sentiment from regional markets as well as the expected high inflation rate in the country.
"Investors see that there will still be more inflation rate this year, which will lead to the increase in interest rate," he told VIVAnews in Jakarta.
He said net selling worth Rp1.6 trillion was due to profit taking in all shares.
An analyst Ukie Jaya Mahendra said foreign net selling in the past three days has been worth Rp3.4 trillion.
According to him, the high inflation rate triggered profit taking after huge capital inflow were put in through the IDX worth Rp19.4 trillion.
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Translated by: Bonardo Maulana W
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