JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) opened up this morning but it turned to red zone after 15 minutes of trading. It inched down 0.1% to 4870.

Banking stocks led market’s correction. Bank Rakyat Indonesia fell 1%, Bank Negara Indonesia shed 1.46%, and Bank Mandiri lost 1.25%. Other losers were Perusahaan Gas Negara (-1.89%) and Kalbe Farma (-0.34%).

Among gainers were Aneka Tambang (+1.8%), Alam Sutera (+1.5%), BW Plantation (+1.15%), and Lippo Karawaci (+2%).

While regional markets gained this morning following Wall Street as concerns eased over the situation in Crimea, while economic data indicated the economy was improving after a winter slowdown, Reuters reported.

Nymex’s crude oil declined 0.23% to US$97.85 per barrel in Asian trading this morning and gold fell 1% to US$1,359.10 per ounce.