JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) opened lower 0.73% at 4586 this morning, followign regional markets’ sentiment.
Escalating political tensions in Ukraine pressured Asian stocks on Monday, forcing anxious investors to cut their exposure to riskier assets in favor of traditional safe haven bets such as the Japanese yen and Swiss franc, Reuters reported.
Nymex’s crude oil increased 0.15% to US$102.59 per barrel in Asian trading while gold declined 0.24% to US$1,321.60 per ounce.
Coal stocks Adaro Energy fell 1.5% and Bumi Resources lost 1.2%. Property stocks also declined, Alam Sutera (-1.7%), Lippp Karawaci (-1.06%), and Bumi Serpong Damai (-1.3%).
Among banking stocks, Bank Rakyat Indonesia shed 1% and Bank Mandiri declined 1.1%. Other losers were Kalbe Farma (-2.4%), Jababeka (-1.8%), Telkom (-1.08%), and Hanson International (-2.5%).