JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) dropped 3.7% to close at 3,967 on Tuesday (August 27) in line with markets in the region.
Singapore’s Straits Times and Malaysia’s KLSE lost more than 1%. While India’s BSE slashed 3%. Shanghai and Australia’s All Ordinaries closed in green.
In Jakarta bourse, blue chip stocks led market’s fall. Bank Mandiri dropped 6.34%, Bank Rakyat Indonesia fell 2.24%, Bank Negara Indonesia lost 3.36%, Astra International shed 6.19%, and Telkom slashed 5.16%.
Property stocks were also focus of selling. Alam Sutera (-11.6%), Bumi Serpong (-7.63%), and Lippo Karawaci (-2.94%).
Other losers were Kalbe Farma (-6.15%), Media Nusantara Citra (-9.26%), Waskita Karya (-12%), Wijaya Karya (-9.32%), Global Mediacom (-8.43%), and Multipolar (-11.76%).
The rupiah weakened further to Rp10,883 against the US Dolar. (yohanneso@yosefardi.biz)