JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) opened lower 0.6% at 4203 this morning while regional markets were mixed.
China’s Shanghai Composite index seesawed between gains and losses early Wednesday, mirroring the dramatic U.S. trading session overnight as investors digest news of fresh interest rate cuts aimed at propping up the world’s second largest economy, Cnbc.com reported.
Nymex’s crude oil fell 0.41% to US$39.15 per barrel and gold declined 0.1% to US$1,135.90 per ounce.
AKR Corporindo fell 2.76%, Eagle High Plantations lost 4.55%, Indofood CBP declined 2.2%, Jababeka shed 2.63%, Jasa Marga slashed 1.48%, Telkom dropped 2%, United Tractors lost 2.89%, and Unilever Indonesia fell 1.48%.
While Lippo Karawaci gained 1.5%, Indo Tambangraya rose 1.4%, XL Axiata climbed 1.78%, Bank Central Asia increased 1.08%, and Adaro Energy jumped 2.75%.
Central bank, Bank Indonesia (BI) has further cut Indonesia’s economic outlook growth to 4.7% to 5.1% from previous 5-5.4%, the second time of revision due to the expected prolong economic slowdown. The private sector investment and the government’s spending are slowing, the main considerations for BI to again revise down the growth outlook. Indonesian economy only grew by 4.72% in the first half of this year.