JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) dropped 2.58% to close at 5106 in the morning trade, the lowest level year to date. Consumer and finance stocks led market’s correction, falling 3.4% and 2.96% respectively.
Astra International fell 3.05%, Adaro Energy declined 2.15%, Bank Central Asia dropped 3.9%, Bank Rakyat Indonesia lost 2.74%, Bank Negara Indonesia shed 4.89%, and Bank Mandiri dropped 4.82%.
Bumi Serpong Damai also lost 4.08%, Bumi Resources fell 2.78%, BW Plantation declined 2.66%, Kalbe Farma slashed 3.73%, and Telkom shed 3.94%.
Other losers were Indofood (-5.26%), Jasa Marga (-6.37%), United Tractors (-5.44%), Unilever (-5.67%), Surya Citra Media (-3.95%), Semen Indonesia (-2.65%), and Global Mediacom (-5.49%).
Meanwhile Asian share markets faded from seven-year peaks on Wednesday while investors exited crowded positions in the U.S. dollar as the Federal Reserve wraps up a two-day policy meeting, Reuters reported.