BEI INDEX OPENS LOWER ON SELL-OFFS

Jakarta, Jan. 12 (ANTARA) - Jakarta stocks traded lower at the Indonesian Stock Exchange (BEI) here on Tuesday morning as investors sold blue chip and small-cap shares after rallies over the past two weeks.

The Composite Stock Price Index (IHSG) fell 0.09 percent or 2.504 points to 2,629.785 and the LQ-45 index went down 0.608 point or 0.13 percent to 518.154.

"We are optimistic that stock trading will be positive again as hot money from foreign investors is still flowing in," said Krisna Dwi Setiawan, a stock market analyst of PT Valbury Asia Securities.

The domestic stock market still had a chance to strengthen again and the current depreciation was just temporary following significant rallies on previous days, he said.

The BEI index might reach the level of 2,670 points up to 2,700 points, he said.

Among top losers at the BEI were Astra Agro Lestari shares that went down Rp200 to Rp24,700, Indo Tambang Mega shares that fell Rp200 to Rp32,750, Bumi shares that declined Rp100 to Rp2,800, and Astra International shares that weakened Rp100 to Rp34,800.

Antam shares decreased Rp25 to Rp2,300, Medco shares that dropped Rp25 to Rp2,625, Indosat shares that fell Rp25 to Rp4,850 and Inco shares that plunged Rp50 to Rp3,925.