JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) dropped 5.58% to close at 4,313 on Monday (August 19) while rupiah touched Rp10,500 against the US Dollar.

Most regional markets also closed in red. Japan’s Nikkei, Shanghai, and Australia’s All Ordinaries closed in green. While Nymex’s crude oil retreated 0.09% to US$107.21 per barrel.

The rupiah touched Rp10,550 against the US Dollar today, dropped further alongwith regional currencies. The weakening rupiah will impact on import of goods but help export. Rupiah moved in 9,500 to 9,700 against the US Dollar in early this year but had passed 10,000 level in the past 2 months.

Some analysts expect the rupiah will reach Rp11,000 against the US DOllar in near term, before year end. The market players are still concerning on The Fed’s policy to reduce, or stop, the stimulus.

While central bank, Bank Indonesia (BI), said Indonesia’s current account deficit (amounting US$9.8 billion), which widened to 4.4% of GDP in second quarter of this year (first quarter: US$5.8 billion or 2.6%), also made a push to the rupiah.

In Jakarta bourse, Alam Sutera plummeted 10.13%, Lippo Karawaci slided 10.29%, Bumi Resources dropped 9.38%, and Bank Rakyat Indonesia shed 8.33%.

Other losers were Astra International (-5.56%), Adaro Energy (-7.5%), Bank Mandiri (-7.83%), Bank Negara Indonesia (-5.49%), Bumi Serpong Damai (-6.25%), Kalbe Farma (-6.25%), and Telkom (-6.61%).

Media Nusantara lost 9.45%, Waskita Karya fell 12.99%, and Wijaya Karya dropped 9.65%.