JAKARTA (Indonesia Today) – Composite index of the Indonesia Stock Exchange (IDX) dropped further 1.37% to 4,925.48 on Friday (May 3) while regional markets closed mixed.
IDX gained in early morning trade but the selling then pushed it into negative territory. The selloff in local stocks intensified in afternoon trade.
Investors kept selling stocks following outlook revision on Indonesia rating by Standard & Poors (S&P). Standard & Poor’s Ratings Services on Thursday revised its outlook on the Republic of Indonesia to stable from positive.