JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) ended higher 1.07% at 4816 Friday (April 11) while global markets closed in red zone.
Global equities slipped to a two-week low on Friday as a sell-off on Wall Street led by technology and biotech shares and triggered by concerns that valuations are over stretched spread to Asia and Europe, Reuters reported.
In Jakarta bourse, investors opted to recollect the stocks after being sold-off on Thursday (April 10), a day after the general election for voting the legislative members.
The index dropped 3.16% and foreign selling reached Rp1.45 trillion yesterday as investors, who are expecting more effective and efficient legislative and cabinet, responded negatively the outcome of the election, as none of political parties came out as dominant player in the next legislative and government.
Now the market will wait and see the coalition of political parties. PDI-P has insisted it would work with other parties to enter the presidential race in July, but not in the same format of coalition with what the country have in the past 10 years.
Today, Adaro Energy jumped 5.76%, Vale Indonesia hiked 4.58%, Telkom gained 2.43%, Matahari Department Store lifted 3.29%, and Multipolar climbed 4.35%.
Other gainers were Astra International (+1.99%), Bank Central Asia (+1.83%), Bank Rakyat Indonesia (+1.33%), Bumi Resources (+1.32%), Perusahaan Gas Negara (+1.44%), and London Sumatra (+1.85%).
Nymex’s crude oil declined 0.26% to US$103.13 per barrel and gold fell 0.36% to US$1,315.80 per ounce. The rupiah weakened further to Rp11,450 against the US Dollar.