JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) fell 2.3% to close at 4899 on Tuesday (June 9), but closed off its low after falling more than 3%. The index reached its lowest at 4852 today.
Stocks across Asia fell Tuesday as investors focused on the prospect of higher U.S. interest rates, with Taiwan, Japan and Hong Kong falling by more than 1% each, Marketwatch.com reported.
Banking stocks led the market’s correction. Bank Rakyat Indonesia dropped 4.77%, Bank Negara Indonesia lost 3.73%, Bank Mandiri shed 3.4%, bank Tabungan Negara fell 3.1%, Panin Bank dropped 5.88%, Bank Central Asia declined 2.03%, and Bank Jabar slashed 2.26%.
Other losers were Adaro Energy (-3.47%), AKR Corporindo (-5.5%), Alam Sutera (-5.41%), Bumi Serpong Damai (-3.87%), Bumi Resources (-2.9%), Indofood (-5.38%), Kalbe Farma (-3.24%), United Tractors (-6.18%), and Unilever (-4.45%).
Adhi Karya also lost 4.59%, Wijaya Karya dropped 4.4%, Media Nusantara fell 3.16%, Multipolar shed 4.32%, and Hanson International dropped 10.7%.
Nymex’s crude oil rose 0.76% to US$58.58 per barrel and gold increased 0.47% to US$1,179.10 per ounce. The rupiah was traded flat at Rp13,362 against US dollar.