JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) opened lower 0.2% at 5122 this morning as concern over the political stability in the country remain weigh on market sentiment.
Foreign investors’ net sell totaled Rp2.98 trillion last week. On Friday last week, foreign net sell amounted Rp1.42 trillion.
Investors opted to offload the local stocks, responded negatively over the decision made by the lawmakers that voted for indirect election of governors, regents, and mayors by member of regional of regional House of Representatives (DPRD).
More than 30 institutions of association of the citizens will propose to MK to conduct a judicial review over the indirect regional election law.
This week, market sentiment will be affected by released economic data such as inflation for September, export and import for August, and BI Rate decision.
At 9.16 am Jakarta time, Lippo Karawaci lost 2% and Borneo Lumbung dropped 6.2% on concern over its widened net loss in first quarter of this year.
Nymex’s crude oil rose 0.58% to US$92.01 per barrel in Asian trading while gold fell 0.54% to US$1,218.10 per ounce.