JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) ended lower 3.97% at 4163 Monday (August 24), closed off its low of 4,111. The falls in regional and global markets dampened the market sentiment in Jakarta.
Investors deeply concern over the slowing Chinese economy. China’s SSE also dropped 8.49%, Hong Kong’s Hang Seng fell 5.17%, and Japan’s Nikkei declined 4.61%.
Among plantation stocks, Astra Agro dropped 7.85%, Eagle High Plantation plummeted 13.36%, London Sumatera lost 6.03%, and Salim Ivomas shed 10.1%.
In mining, Vale Indonesia dropped 10.27%, Timah lost 8.85%, Aneka Tambang fell 6.93%, and Perusahaan Gas Negara dropped 13.24%.
Property stocks were also focus of sell off. Alam Sutera dropped 7.1%, Sentul City lost 13%, Bumi Serpong Damai fell 9.42%, Ciputra Development shed 7.14%, Lippo Karawaci declined 1.5%, and Modernland Realty slashed 11.8%. Nirvana Development and Jababeka also lost 11.18% and 11.42% respectively.
For banking stocks, Bank Central Asia fell 4.84%, Bank Negara Indonesia shed 4.07%, Bank Rakyat Indonesia declined 3.68%, and Bank Mandiri dropped 3.68%. Bank Jabar also dropped 6.35%, Bank Bukopin lost 8.94%, Bank Tabungan Negara slashed 7.35%, Bank Danamon shed 9.98%, and Panin Bank declined 5.34%.
Other losing stocks were Japfa Comfeed (-13%), Charoen Pokphand (-15.48%), Semen Indonesia (-9.72%), Adhi Karya (-9.92%), Semen Baturaja (-8.42%), Media Nusantara Citra (-8%), and Garuda Indonesia (-6.94%).
Nymex’s crude oil dropped 3.2% to US$39.15 per barrel while gold retreated 0.35% to US$1,154.60 per ounce. The rupiah weakened further to Rp13,998 against the US dollar, based on mid rate quoted by central bank, Bank Indonesia. While Bloomberg quoted that the rupiah weakened 0.78% to Rp14,049 against the US dollar.