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Jakarta stocks end down two percent, trade thin

JAKARTA: Jakarta stocks extended Thursday's losses and closed two percent lower on Monday as concerns over Indonesia's ability to fulfil key tasks agreed with the IMF on time and resolve a banking scandal dampened sentiment.

The composite index fell 12.38 points, or 2.12 percent to 570.9. The index also fell 1.4 percent on Thursday. The market was closed on Friday for the end of the fiscal year.

But dealers said trading was thin at an estimated 444 billion rupiah turnover and is expected to remain thin this week amid reluctance to trade ahead of public holidays on Tuesday and Thursday.

The Jakarta stock market has fallen more than 12.6 percent this year amid worries over slow progress of reforms, making it the third worst performer in Asia after Manila and Bangkok.-Reuters