JAKARTA (Yosefardi) – Investors continued offloading Indonesian stocks, dragging down the composite index of the Indonesia Stock Exchange (IDX) by 1.6% to 5116 at morning session close while the rupiah weakened to Rp12,000 against the US dollar.
Concern over the political stability in the country emerges after the lawmakers voted for indirect election of governors, regents, and mayors by member of regional of regional House of Representatives (DPRD).
During the morning session, some 2.4 billion shares valued at Rp3.5 trillion were exchanged hands. Decliners led gainers 243 to 45 while 53 shares unchanged. Foreign investors reportedly booked net selling of over Rp800 billion.
Adaro Energy dropped 5.1%, Aneka Tambang fell 3.08%, Alam Sutera lost 3.07%, Bank Rakyat Indonesia shed 3.25%, Bank Negara Indonesia slashed 3.9%, Bank Mandiri declined 3.8%, and Bumi Serpong Damai dropped 4.59%.
Other losers were Jababeka (3.72%), Adhi Karya (-3.6%), Waskita Karya (-5.06%), and Berau Coal (-6.43%).