JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) ended higher by 1.48% to 4,026 on Wednesday after recent substantial drop along with global markets correction.
In Asia region, all markets were remain in downside but limited with India’s BSE was traded flat but tends to regain on Wednesday.
In Jakarta bourse, investors recollected local stocks as they have reached their cheap valuations after recent hefty drops.
Among blue chip stocks, Astra International gained 4.72%, Adaro Energy rose 1.16%, Bumi Serpong Damai increased 1.65%, Lippo Karawaci jumped 4.04%, Kalbe Farma gained 0.82%, Telkom climbed 4.94%.
Banking stocks also rebounded; Bank Central Asia (+2.23%), Bank Rakyat Indonesia (+0.76%), Bank Negara Indonesia (+2.78%), and Bank Mandiri (+2.26%).
Other gainers were Aneka Tambang (+5.34%), Media Nusantara Citra (+9.18%), Waskita Karya (+9.47%), and Wijaya karya (+14.38%).
Among losers were Multipolar (-6.67%), Global Mediacom (-2.63%), Visi Media (-2.03%), Alam Sutera (-1.01%), Perusahaan Gas Negara (-3.85%), and Trada Maritim (-0.7%).
The rupiah weakened further to Rp10,950 against the US Dollar. (yohanneso@yosefardi.biz)