Composite index of Indonesia Stock Exchange (IDX) dropped 3.2% to 4483 Tuesday (Oct 13), dragged down by negative sentiment from weak China import data and profit taking in blue chip and mining stocks.
IDX was the weaker in the region because Nikkei 225 slipped 1.11% only, while KOSPI down 0.13%. Shanghai’s SSE composite index even ended in positive territory, while Australia’s All Ordinaries lost only 0.62%. Weak China data weighed on commodities, which led to 0.85% correction of FTSE 100 in the early hour of trading.
Astra International (ASII) fell 8.6% after days of rally, while BRI and Mandiri lost 7.2% and 2.45% respectively. Adaro Energy’s gain evaporated 9.3%, while Global Mediacom fell 10%. Bumi Resources, which gained significantly in the previous trading days, retreated 9.64%, while Indocement tumbled 9.7%.
It was a broad market correction. Indofood Sukses Makmur lost almost 6%, while Unilever Indonesia down 2%. Telkom fell 2%, while pharmaceutical giant Kalbe Farma lost almost 4%.