Indonesian shares are expected to undergo further correction in this week due to continued profit-taking amid uncertainty surrounding the government's plans to increase fuel prices, an analyst said on Friday. "Correction will continue until the government announces the fuel price increase. Only then investors can make new calculations and weigh up which companies will gain from the increase and which ones will lose," Jasso Winarto, a Sigma Research Institute analyst, said.

The government is expected to raise prices for some fuel products by an average of 30 percent in early March to reduce the burden of fuel subsidy spending. The precise details of the hike and timing have yet to be announced.

However, the government wants to reduce fuel subsidy costs to 39 trillion rupiah (4.2 billion dollars) in 2005 against 61 trillion last year.

The Jakarta Stock Exchange composite index closed the week to February 25 down 9.117 points or 0.83 percent at 1,083.376.

Daily average volume totalled 2.64 billion shares valued at 1.81 trillion rupiah (196.7 million dollars) compared with 2.35 billion shares valued at 1.96 trillion rupiah the previous week.

Copyright Agence France-Presse, 2005