JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) ended lower 1.75% to 4771 Monday (July 27) led by banking stocks. Regional markets also closed in red on concern over global economy.
China’s SSE Composite dropped 8.48%, largest one-day drop since 2007, shattering a period of relative calm in China’s volatile stock market since Beijing unleashed a barrage of support measures to arrest a slump that began in mid-June, Reuters reported.
In Jakarta bourse, banking stocks led the market’s correction. Bank Rakyat Indonesia lost 3.2%, Bank Negara Indonesia fell 3%, Bank Mandiri dropped 4.5%, and Bank Central Asia declined 2%. Bank Jabar lost 4.05%.
Other losers were Astra Agro (-6.2%), Astra International (-3.38%), Aneka Tambang (-5.98%), Bumi Serpong Damai (-3.56%), Bumi Resources (-3.85%), Eagle High Plantation (-3.39%), and Semen Indonesia (-8.69%).
Jasa Marga also dropped 4.34%, Indocement lost 3.63%, Wijaya Karya fell 3.29%, Multipolar slashed 4.69%, and Bumi Resources Minerals shed 9.52%.
Nymex’s crude oil fell 0.36% to US$49.73 per barrel while gold rose 1.45% to US$1,101.30 per ounce. The rupiah was traded flat at Rp13,453 against the US dollar.