REPUBLIKA.CO.ID, JAKARTA -- Profit taking by domestic investors resulted in the Jakarta composite index (JCI) closing 0.47 percent lower on Wednesday.

The index of the Indonesian Stock Exchange (BEI) fell 25.37 points to 5,347.94 points with index of 45 most liquid stocks down 0.77 percent to 919.74.

"There was profit taking by domestic investors, but foreign investors continued buying shares," Reliance Securities analyst Lanjar Nafi said.

Based on data at BEI, there was still foreign net buy of Rp361.52 billion on Wednesday.

Lanjar said the index correction was natural after days of significant increase in share prices following the tax amnesty policy, cabinet reshuffle and low inflation.

Asjaya Indosurya Securities analyst William Surya Wijaya said the majority of markets in Asia were under pressure with impact on the BEI index.

In addition, the price of crude oil was still in low level, William said.

However, the country's economy was quite stable and foreign funds still are flowing into the domestic financial market, greatly cushioning the impact of the pressure, he noted.

He said he hoped the country's Gross Domestic Product (GDP) for the second quarter, the data yet to be released, would increase that would prompt market players to buy shares.

Trade on Wednesday was closed with 316,251 transactions and 7.91 billion shares worth Rp8.84 trillion changing hands.

Gainers were recorded at 146 outnumbered by 173 decliners with 90 shares unchanged in value.

Regional markets such as Hang Seng, Nikkei and Straits Times recorded a decline in index.

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