JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) fell further 1.3% this morning opening to 4323 after dropped more than 1% Tuesday (Nov 12) after BI Rate hike.
Bank Indonesia has raised its benchmark BI Rate to 7.5% on current account deficit concerns. Stock markets in the region opened mostly lower this morning.
Commodities were also under pressure as Nymex crude dropped to below US$93 per barrel in Asian trading, while gold down to US$1260 per ounce.
In Jakarta bourse, property stocks led the market’s fall. Alam Sutera dropped 3.68%, Bumi Serpong Damai fell 2.1%, and Lippo Karawaci declined 2%.
Banking stocks were also in red zone. Bank Rakyat Indonesia lost 2.63%, Bank Mandiri shed 2.6%, Bank Negara Indonesia slipped 1.7%. Bank Central Asia also down 2.49%.
Other losers were Telkom (-3.37%), Charoen Pokphand (-2.65%), Media Nusantara Citra (-1%), Global Mediacom (-2.07%), Indika Energy (-2.5%), Jababeka (-1.5%), and Perusahaan Gas Negara (-1.49%).
Plantations stocks gained; BW Plantation (+4.42%) and London Sumatera (+0.58%).