JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) opened down 0.72% at 4731 this morning, but then regained 0.15% to 4772.
On Thursday the index dropped 3.16%, a day after the general election for voting the legislative members, with foreign net selling totaling Rp1.45 trillion.
Investors, who are expecting more effective and efficient legislative and cabinet, responded negatively the outcome of the election, as none of political parties came out as dominant player in the next legislative and government.
Now the market will wait and see the coalition of political parties. PDI-P has insisted it would work with other parties to enter the presidential race in July, but not in the same format of coalition with what the country have in the past 10 years.
At 9.15 am Jakarta time, Bank Rakyat Indonesia gained 1.06%, Bank Mandiri up 0.52%, Astra International increased 0.66%, Vale Indonesia rose 1.26%, Adhi Karya inched up 0.9%, Multipolar climbed 1.74%, and Bumi Resources Minerals (BRMS) jumped 3.67%.
Regional markets were in red zone this morning.