JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) dropped 0.98% to 4563 at opening trade this morning following regional markets.
Asian shares edged lower and the dollar stood tall on Thursday morning, after the U.S. Federal Reserve rekindled market expectations that it might still be on track to raise interest rates by year-end, Reuters reported.
The Fed held policy steady last month and expressed concern that a slowing global economy could threaten the U.S. outlook, and so the absence of these worries in the latest statement was viewed as opening the door to a rate hike this year.
Astra Agro dropped 2.93%, Astra International lost 2.47%, Bank Rakyat Indonesia fell 2.7%, Bank Danamon declined 2.4%, Indocement shed 2.36%, Lippo Karawaci slashed 3.49%, and United Tractors dropped 4.67%.