JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) moved flat this morning (Friday), inched down 0.01 at 5093, in line with regional markets.
Foreign investors booked net selling of Rp432.36 billion on Thursday, dragging down the composite index by 0.67% after 3 days gain along with the fuel price hike euphoria.
As regional and global markets were also in negative mood, foreign investors in Jakarta bourse opted to lock in profits.
Investors might start to think rationally, turning to the fundamental of local stocks, and start concerning on the impact of fuel price hike in affected sectors such as automotive, property, and banking.
Nymex’s crude oil rose 0.79% to US$76.45 per barrel in Asian trading and gold increased 0.2% to US$1,193.30 per ounce.
Aneka Tambang gained 2.62% and Timah rose 3.77%. While Bumi Resources fell 3.01%.