JAKARTA (Indonesia Today) – Composite index of Indonesia Stock Exchange (IDX) closed substantially lower by 1.2% Wednesday (August 29) on broad market correction led by the collapse of Bakrie-related stocks.
Most blue chip stocks ended lower, except Unilever Indonesia, Perusahaan Gas Negara, Indofood, and Bayan Resources.
Astra International and BCA lost 2.1% and 1.9%, while Bank Mandiri dropped 4.3%. BRI also down 2.74%, while Semen Gresik and United Tractors down 3.88% and 1.38%.
Bakrie-related stocks were hit the most as Berau Coal Energy (BRAU) plunged 14.3%, while Bumi Resources tumbled 11.84% to Rp670. Energi Mega Persada also plummeted 8.91%, while Bakrie Telecom fell 5.56%.