JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) ended down 1.9% to 4,429 on Monday (June 24) following regional market sentiment, mainly undermined by China data.
Shanghai composite dropped 5.3%, Hong Kong’s Hang Seng lost 2.2% while other regional markets shed more than 1%.
Investors in Shanghai sold down shares as they fear that Chinese policy may be tightening after the country’s central bank said liquidity in its financial system is “reasonable”, despite high short term rates.
In Jakarta bourse, blue chips led market’s fall. Astra Internatonal down 0.79%, Adaro Energy lost 7.2%, Bumi Resources slid 7.14%, Alam Sutera shed 5%, Bumi Serpong Damai dropped 4.49%, Bhakti Investama fell 7.78%, and Perusahaan Gas Negara declined 3.12%.
Banking stocks also closed in red. Bank Rakyat Indonesia fell 1.39%, Bank Mandiri lost 2.3%, and Bank Negara Indonesia shed 1.2%.
Other losers were Media Nusantara Citra (-7.55%), Waskita Karya (-6.17%), Wijaya Karya (-10.11%), Global Mediacom (-5.1%), and Multipolar (9.68%).
Bucking the trend were Saranacentral Bajatama (+1.25%), Kalbe Farma (+0.84%), Lippo Karawaci (+1.36%), Trada Maritim (+2.27%), and Telkom (+0.5%).
Nymex’s crude oil declined 0.6% to US$93.14 per barrel. The rupiah strengthened to Rp9,931 against the US Dollar.