JAKARTA (Yosefardi) – Investors at Jakarta bourse sold stocks in afternoon trade, dragging down composite index of the Indonesia Stock Exchange (IDX) by 1.16% as investors concern over the US stimulus pullback.
Reuters reported Russia and China warned on Thursday that the end of the U.S. Federal Reserve’s bond-buying program could have a profound impact on the global economy and urged caution.
Speaking ahead of the start of the Group of 20 summit, when economic issues and Syria will top the agenda, host Russia and China, the world’s second largest economy, made clear their concerns about the widely expected ‘tapering’ of the Fed’s multi-billion dollar monetary stimulus policy.
At mid afternoon trading, Alam Sutera lost 4.08%, AKR Corpindo dropped 8.97%, Borneo Lumbung lost 9.43%, Charoen Pokphand slashed 7.89%, BW Plantation shed 6.19%, Bumi Serpong declined 3.97%, Lippo Karawaci lost 6.8%, London Sumatra dropped 5.73%, and Telkom fell 3.57%.