JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) dropped 1.5% to close at 5159 on Wednesday (Jan 14).
The index opened in green at morning trade and closed flat at morning session. It was then pushed down during the afternoon trade. Regional markets also closed in red.
Commodity stocks led the market’s correction on concern over the further declining of crude oil prices.
Among coal stocks, Bumi Resources dropped 10.53%, Borneo Lumbung lost 5.45%, Berau Coal fell 8.64%, Bumi Resources Minerals declined 4.68%, and Adaro Energy shed 2.07%.
Plantation stocks, BW Plantation fell 2.34% and London Sumatra dropped 3.72%. Perusahaan Gas Negara also slashed 3.1%.
Other losers were Alam Sutera (-2.54%), Sentul City (-5.08%), Vale Indonesia (-4.39%), Trada Maritim (-18.92%), Bank Tabungan Negara (-4.27%), Adhi Karya (-3.08%), Media Nusantara Citra (-4.66%), Global Mediacom (-9.7%), and Multipolar (-5.19%).
Nymex’s crude oil fell 1.68% to US$45.12 per barrel and gold declined 0.42% to US$1,229.20 per ounce. The rupiah strengthened to Rp12,580 against the US dollar.