JAKARTA (Yosefardi) – Composite index of the Indonesia Stock Exchange (IDX) dropped 2.39% to close at 4336 on Friday (August 21), along with global market, on China factor. China’s SSE also dropped 4.27% today.
World stock markets tumbled towards their worst week of the year on Friday and commodities got another kicking, as more alarming data from China sent investors scurrying to the safety of bonds and gold, Reuters reported.
The data from China showed its giant manufacturing sector slowing at the fastest pace since the depths of the financial crisis in 2009, confirming the worries about its health that have preying on economist’s minds for months.
Banking stocks led market’s drop today. Bank Central Asia fell 3.26%, Bank Negara Indonesia lost 2.7%, Bank Rakyat Indonesia shed 2.3%, Bank Mandiri declined 2.3%, Bank Tabungan Negara dropped 6.42%, Bank Jabar slashed 5.26%, and Bank Panin lost 3.74%. While Bank Danamon gained 1.66%.
Other losers were Telkom (-4.88%), Timah (-4.24%), Perusahaan Gas Negara (-4.2%), Jababeka (-7.59%), Indofood (-4.82%), Vale Indonesia (-7%), Charoen Pokphand (-7.18%), Eagle High Plantations (-7.67%), Bumi Serpong Damai (-5.52%), and Alam Sutera (-8.06%).
Nymex’s crude oil fell 0.82% to US$40.98 per barrel and gold inched down 0.08% to US$1,151.30 per ounce. The rupiah weakened further to Rp13,895 against the US dollar.