JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) opened in green but then fell 0.3% to 4891 at early trade this morning following regional markets.
The Asian Development Bank (ADB) further cuts its projection over the Indonesian economic growth to 5% this year, from earlier 5.5% projection, due to lower-than-expected government spending on the infrastructure projects.
ADB Deputy Country Director Edimon Ginting also explained the further cut on projection was made following the lower state revenue from tax collection, delay of positive impact from economic reform, and delay of export recovery due to the decline in commodity prices.
Asian shares fell on Wednesday as investors fretted over Greece’s debt crisis and a recent plunge in Chinese stocks, while the euro steadied, Reuters reported.
Nymex’s crude oil inched down 0.08% to US$52.29 per barrel in Asian trading this morning and gold down 0.02% to US$1,152.40 per ounce.
Adaro Energy lost 2.14%, Astra International fell 1.45%, Bank Negara Indonesia declined 1.8%, Bank Mandiri shed 1.48%, Eagle High Plantations dropped 1.2%, Jababeka slashed 1.15%, London Sumatra slipped 1.85%, and United Tractors fell 1.58%.