JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) ended lower 2.54% at 4698 Thursday (March 20) as market sentiment was hit by concern over the US rate hike.
Reuters reported the U.S. Federal Reserve will probably end its massive bond-buying program this fall, and could start raising interest rates around six months later, quoting Fed Chair Janet Yellen.
In regional, Japan’s Nikkei, Hong Kong’s Hang Seng, and Australia’s All Ordinaries also fell more than 1%.
Among banking stocks, Bank Rakyat Indonesia declined 2.8%, Bank Negara Indonesia lost 4.32%, Bank Mandiri dropped 4.35%, and Bank Central Asia down 2.57%.
Property stocks were also focus of selling. Alam Sutera lost 4.55%, Bumi Serpong Damai dropped 4.99%, and Lippo Karawaci fell 4.42%.
Other losers were Telkom (-3.1%), Perusahaan Gas Negara (-3.84%), Jababeka (-3.7%), Astra International (-4.13%), and Adaro Energy (-4%).
Nymex’s crude oil inched up 0.02% to US$99.19 per barrel while gold declined 0.66% to US$1,332.40 per ounce. The rupiah weakened further to Rp11,407 against the US Dollar.