JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) fell 2.57% to 4885 at 2.42 pm Jakarta time on Tuesday (June 9), but cut losses as earlier it dropped by more than 3%.
Asia shares also sank in a sea of red on Tuesday as speculation of U.S. rate rise as early as September hit emerging markets generally, Reuters reported.
Banking stocks led the market’s correction. Bank Rakyat Indonesia dropped 4.77%, Bank Negara Indonesia lost 4.56%, Bank Mandiri shed 3.64%, bank Tabungan Negara fell 3.1%, Panin Bank dropped 5.88%, Bank Central Asia declined 2.76%, and Bank Jabar slashed 2.82%.
Other losers were Alam Sutera (-6.31%), Bumi Serpong Damai (-5.52%), Bumi Resources (-4.35%), Indofood (-5%), and Unilever (-3.73%).