JAKARTA (Yosefardi) – Investors sold off local stocks Thursday (Oct 2) as concern over political risks is growing. Composite index of the Indonesia Stock Exchange (IDX) fell 2.73% to close at 5,000.
Regional market and global markets also added to negative sentiment. World stocks were knocked hard on Thursday after global manufacturing data and an Ebola health scare in the United States spooked markets, Reuters reported.
Japan’s Nikkei dropped 2.61% and Hong Kong’s Hang Seng lost 1.28% as investors wary of lackluster economic data and keeping a cautious eye on civil unrest in Hong Kong.
In domestic front, market players have more questions on political stability after opposition led by Prabowo Subianto winning key positions in the newly installed House of Representatives (DPR).
Banking stocks led market’s fall. Bank Negara Indonesia dropped 6.73%, Bank Central Asia fell 4.8%, Bank Rakyat Indonesia lost 3.72%, Bank Mandiri down 1.98%, and Bank Tabungan Negara slashed 3.39%.
Other losers were Astra International (-5.71%), Alam Sutera (-4.76%), Sentul City (-7.45%), Bumi Serpong Damai (-4.15%), BW Plantation (-4%), Vale Indoanesia (-4.1%), London Sumatra (-4.12%), and Telkom (-3.66%).
Adhi Karya also lost 5.1%, Wijaya Karya fell 3.87%, Aneka Tambang declined 3.69%), Pakuwon Jati dropped 4.4%, Multipolar shed 3.7%), Matahari Putra Prima slashed 3.02%, and Berau Coal lost 5.74%. Meanwhile Timah gained 4.12%.
Nymex’s crude oil dropped 1.4% to US$87.86 per barrel while gold rose 0.48% to US$1,224 per ounce. The rupiah strengthened to Rp12,136 against the US dollar.