JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) ended lower 0.48% at 4864 Thursday (June 19), reversing its early morning gain.
Global stocks and emerging market assets rallied on Thursday after the U.S. Federal Reserve signaled that rising inflation won’t trigger an interest rate rise any time soon, while Iraq turmoil sent crude oil futures to their highest this year, Reuters reported.
Japan’s Nikkei and Australia’s All Ordinaries gained 1.62% and 1.54% each.
In Jakarta, investors focused selling shares of giant coal miner PT Bumi Resources Tbk (BUMI), then the stock dropped 5.7%, due to debt concern.
Bloomberg reported BUMI will say on Friday whether bondholders are letting it repay $375 million of notes within seven years instead of seven weeks.
Other falling stocks were Adaro Energy (-2.77%), Alam Sutera (-2.88%), Bumi Serpong Damai (-2.87%), Vale Indonesia (-2.69%), Jababeka (-3.06%), Kalbe Farma (-2.14%), Bank Tabungan negara (-3.29%), Adhi Karya (-2.84%), Wijaya Karya (-2.02%), and Multipolar (-6.37%),
Nymex’s crude oil increased 0.25% to US$105.85 per barrel and gold rose 0.68% to US$1,281.40 per ounce. The rupiah strengthened to Rp11,916 against the US dollar.