Thursday May 8, 04:00 AM
Indonesian shares open lower after Wall Street falls on record oil price
JAKARTA (Thomson Financial) - Indonesian shares were lower in early trade on Thursday as investors cashed in gains from the
market's rally over the past week following losses on Wall Street overnight.
The Dow industrials fell more than 200 points after crude oil surged to a new record near $124 a barrel, reviving inflation fears.
Gains in coal miners Bumi Resources and Bukit Asam helped trim the market's losses.
At 9:36 a.m. (0236 GMT), the Jakarta composite index was down 11.94 points or 0.5 percent at 2,370.
The LQ-45 index was down 3.36 points at 508.36.
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