JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) dropped 1.6% this afternoon trade ahead of the announcement of new elected president for the country.
The General Election Commission (KPU) is set to announce the elected president at around 4 pm Jakarta time despite protest from Prabowo-Hatta’s camp. With full security support from Indonesia military (TNI) and the national police, KPU will not suspend the announcement.
Prabowo camp also reportedly rejects KPU’s recapitulation of votes and claimed KPU as actor of election problems.
As the index had gained recently, investors now opted to lock in profits in local stocks. Interestingly, foreign investors accumulated the stocks, with a net buying of Rp264 billion in morning trade.
Alam Sutera dropped 5.45%, Bumi Serpong Damai shed 5.4%, Jababeka lost 5.4%, and Telkom fell 3.7%. Other losers were Adaro Energy (-3.1%), Bank Negara Indonesia (-3%), BW Plantation (-3.49%), and London Sumatra (-3.83%).
Bank Tabungan Negara dropped 8.19%, Adhi Karya lost 3.4%, Waskita Karya fell 3.53%, Wijaya Karya down 3.2%, Multipolar slided 3.38%, Pakuwon Jati dropped 6.1%, and Matahari Putra Prima shed 4.7%.