JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) ended down 0.3% at 5014 Monday (May 19) following the declaration of 2 pairs of presidential and vice presidential nominees.
The index opened higher at morning trade but profit taking hit after it reached 5091 point. The index then closed flat at morning session after Muhammad Jusuf Kalla was declared as vice president nominee or running mate of Joko “Jokowi” Widodo.
As the selling in local stocks continued, the index fell in afternoon trade, reaching the lowest at 4979. However the buying in certain stocks ahead of the market close helped the index cutting its losses.
Investors might have sold the local stocks on news Jokowi and Prabowo as presidential candidates have officially named their running mates or vice presidential candidates.
Some investors might now think that both Jokowi and Prabowo have the equal chance to win the upcoming presidential race.
Bumi Resources lost 5.36%, Bumi Serpong Damai dropped 4.38%, Alam Sutera lost shed 3.74%, and Timah fell 3.65%.
Other losers were London Sumatra (-2.54%), BW Plantation (-2.58%), Jababeka (-2.62%), Aneka Tambang declined (-1.64%), Bank Negara Indonesia (-1.49%), and Lippo Karawaci (-1.75%).
Construction stocks also closed in red. Adhi Karya fell 3.38%, Waskita Karya lost 3.23%, and Wijaya Karya dropped 2.9%.
Among gainers were Telkom (+1.78%), Kalbe Farma (+1.24%), Vale Indonesia (+2.79%), Bank Rakyat Indonesia (+1.86%), and Adaro Energy (+2.41%).
Nymex’s crude oil increased 0.48% to US$102.07 per barrel and gold rose 0.5% to US$1,300 per ounce. The rupiah strengthened to Rp11,351 against the US dollar.