JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) ended lower 0.63% at 4769 Tuesday (Feb. 9) inline with global markets.
Global markets sank Tuesday, led by a 5.4% slide in Tokyo, as renewed jitters about the global economy set off a wave of selling in banking stocks, AP reported.
Equity markets have been in a slump so far this year after a lackluster 2015. Several factors have kept investors in a selling mood, including falling crude oil prices, waning growth in China and increased risk of recession in other major economies if market volatility takes a toll on business confidence and investment.
Adaro Energy dropped 7.8%, Astra Agro fell 2.4%, Bank Rakyat Indonesia lost 2.64%, Bank Mandiri shed 2.9%, Indofood CBP slashed 4.5%, Vale Indonesia fell 2.4%, and Telkom dropped 3.57%.
Nymex’s crude oil rose 2.73% to US$30.50 per barrel while gold fell 0.73% to US$1,189.10 per ounce. The rupiah weakened to Rp13,689 against the US dollar.