JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) opened lower 0.66% at 4825 this morning following regional markets.
Asian stocks were off to a dismal start to the week on the back of offshore declines and as the fall in commodity prices continues to sap risk appetite, cnbc.com reported.
Nymex’s crude oil fell 0.72% to US$49.91 per barrel in Asian trading this morning while gold increased 0.37% to US$1,085.50 per ounce.
Foreign investors booked net sell of Rp123.8 billion last Friday, cutting year to date net buy to Rp3.98 trillion. While rupiah was traded at Rp13445 against the US dollar this early morning trade.
The government admits the rupiah has been undervalued at current level against the US dollar, or below its real effective echange rate index (REER). Finance minister Bambang Brodjonegoro hopes the central bank (Bank Indonesia) to continue controlling the rupiah development as the government only addressed the fiscal issues.