JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) opened lower 0.45% at 5137 this morning on concern of the country’s poor economic development.
Investors sold stocks as the economy only grew by 4.71% year on year in the first quarter of 2015, the lowest growth for the past 5 years.
Regional markets were also in red zone. Nymex’s crude oil rose 0.8% to US$60.89 per barrel in Asian trading this morning and gold inched up 0.09% to US$1,194.30 per ounce.
Bank Central Asia fell 1.26%, Indofood declined 1.45%, Jasa Marga shed 1.2%, Telkom slashed 1.45%, and Matahari Putra Prima lost 1.1%.
The Central Bureau of Statistics (BPS) chairman Suryamin however revealed that based on survey, the business players are optimistic with the national economic growth outlook in the incoming quarters of this year.
Bank Indonesia is also optimistic the economy would grow better this year as the government’s spending will improve since the second quarter.