JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) dropped further by 2.27% to 4518 this morning, extending yesterday losses, as the China currency ban prompted the panic selling in local stocks.
Asian stocks and commodities extended losses on Wednesday, feeling the aftershocks of China’s surprise devaluation of the yuan, Reuters reported.
Nymex’s crude oil fell 0.1% to US$43.82 per barrel in Asian trading this morning while gold rose 0.32% to US$1,111.40 per ounce.
Adaro Energy dropped 6.2%, Alam Sutera lost 4.78%, Eagle High Plantation fell 5.37%, Kalbe Farma shed 5.16%, Bukit Asam slashed 5.3%, Multipolar dropped 7.4%, Pakuwon Jati lost 7.8%, and Garuda Indonesia slashed 5.25%.
The rupiah weakened further 1.42% to Rp13,800 against the US dollar, Bloomberg quoted this morning.