JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) closed lower 0.78% at 5143 on Friday (Jan 16), following regional markets, as Switzerland’s move to abandon its cap on the franc dampened risk appetite.
Trade was volatile. The index moved up and down in morning trade, then gained for almost first 70 minutes in afternoon trade. Since then, investors sold off stocks because of Swiss Move.
Alam Sutera fell 2.54%, Bank Negara Indonesia declined 2.85%, Bank Mandiri shed 1.83%, Bumi Resources dropped 4.42%, and London Sumatra slashed 2.79%.
Media Nusantara Citra also lost 3.07% and Waskita Karya fell 2.03%. Cement stocks, Semen Indonesia dropped 7.41% and Indocement lost 10.26%.
Nymex’s crude oil gained 1.17% to US$46.79 per barrel while gold inched declined 0.46% to US$1,259 per ounce. The rupiah strengthened to Rp12,593 against the US dollar.