JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) closed lower by 1.03% at 4949 Friday, but closed off its low as it dropped by 1.26% at morning trade.
The index moved at range of 4933-5000 during the day trading. It lost 3.7% in past three days. But year to date, the index has gained 14.37%.
Foreign investors continued their selloffs with net sell of Rp800 billion today, cutting further down net buy this year to Rp46.52 trillion.
The market players were sceptic with the political changes following the new Perppu issued by the President SBY, basically to revoke election of regional leaders by regional House of Representatives (DPRD).
Construction stocks led market’s gain. Wijaya Karya dropped 4.6%, Waskita Karya lost 5.29%, and Adhi Karya fell 2.78%.
Year to date, Wijaya Karya has gained 57.6%, Adhi Karya jumped 73.5%, and Waskita Karya soars 98.7%. Investors aggressively invest in construction stocks on hope new government under Jokowi will boost the infrastructure sector.
Other losers today were Bank Tabungan Negara (-3.95%), Multipolar (-4.8%), Matahari Putra Prima (-4.9%), and Berau Coal (-4.35%).
Among blue chips, Bank Rakyat Indonesia fell 3.14%, and Bumi Serpong Damai lost 3.33%. While Telkom gained 1.09% and Perusahaan Gas Negara rose 1.74%.
Nymex’s crude oil increased 0.15% to US$89.21 per barrel while gold fell 0.56% to US$1,210.90 per ounce. The rupiah slightly weakened to Rp12,144 against the US dollar.