JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) dropped further 2.4% to 4496 at 2.43 pm Jakarta time, as US Fed rate factor hit the market sentiment.
Reuters reported the U.S. Federal Reserve kept interest rates unchanged on Wednesday and in a direct reference to its next policy meeting put a December rate hike firmly in play. Investors had expected the Fed to remain pat on rates, but the overt reference to December came as a surprise.
Adaro Energy dropped 3.85%, Aneka Tambang lost 3.3%, Astra International fell 3.7%, Alam Sutera declined 3.94%, Bank Central Asia shed 3.5%, Bank Rakyat Indonesia slashed 3.6%, Bank Negara Indonesia dropped 4.28%, Bank Danamon lost 6%, and Bank Mandiri shed 4.76%.
Other losers were Gudang Garam (-4.2%), Indofood (-5.35%), Indocement (-6.34%), Jasa Marga (-6.67%), Jababeka (-5%), Semen Indonesia (-4.36%), and United Tractors (-6.68%).
Japfa Comfeed also dropped 7.47%, Sekawan Intipratama lost 9.8%, Surya Citra Media fell 6.27%, Adhi Karya shed 4.7%, Media Nusantara Citra slashed 6.1%, Waskita Karya dropped 4.1%, Multipolar lost 5.6%, and Matahari Putra Prima slashed 5%.