Jakarta Index Opens Lower

Jakarta, Oct 10 (Antara) - The Jakarta composite index (JCI) opened 0.91 percent lower on Friday on negative global sentiment. The index of the Indonesian Stock Exchange (BEI) fell 45.59 points to 4,948.28 points with index of 45 most liquid stocks down 1.35 percent to 832.97 points. "Asian markets including BEI fell this morning to follow the US market on fears of shrinking European economy," Samuel Sekuritas` analyst Tiesha Narandha Putri said. Putri said European economic slowdown is feared to result in US economic growth falling short of expectation promoting investors to invest in safe assets. "The European Central Bank (ECB) expressed concern that the Europe has lost the momentum for economic improvement," she said. Falling value of rupiah against the US dollar added to the negative sentiment on the domestic market, she said. The shrinking rupiah rendered a pressure on bank and property shares after a significant increase in Thursday`s trade, she said. Negatives sentiments from external and domestic factors brought down the BEI index, she added. Meanwhile, the team of technical analysts of Mandiri Sekuritas, said result of a business survey by Bank Indonesia, the country`s central bank, indicated that the business sector slowed in the third quarter than in the previous quarter and in the same period last year. Regional markets such as Hang Seng, Nikkei and Straits Times fell in the opening trade on Friday.