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STOCKS NEWS INDONESIA-Index down as Astra results disappoint

The broader Jakarta Composite Index fell 0.63 percent in the morning, led by a 5.13 percent fall in the shares of Astra International after Indonesia's largest listed company posted lower-than-expected first quarter results.

Astra, an Indonesian conglomerate holding with interests from banking to autos, said late on Wednesday that its first-quarter net profit fell 7 percent, its first decline in almost four years, as economic growth slowed.

Astra Chief Executive Officer Prijono Sugiarto said the company would be affected by factors like rising labour costs, weakening commodity prices and competition in the automotive industry, in the short term.

"It's harder for the auto unit to boost Astra's results. Competition is also getting stiffer, from companies like Indomobil Sukses. And there's a shift in preferred brand or segmentation," said Fadlul Imansyah, vice president at CIMB Asset Management in Jakarta.

Astra International shares slumped 3.85 percent at 7,500 rupiah in the morning session. The broader miscellaneous industry sector index is down 3.12 percent.

1032 (0332 GMT) (Reporting by Andjarsari Paramaditha; Editing by Bijoy Koyitty)