IDX Composite Plummets 2.63% to 3-Month Low

Indonesian Market Sees Sharp Decline

Indonesia's primary stock index, the IDX Composite, experienced a significant downturn at the close of trade on Friday, falling 2.63% to establish a new three-month low. The broad-based decline was attributed to substantial losses across several key sectors.

Sector Performance Overview

The market slump was primarily led by weakness in the Infrastructure, Financials, and Agriculture sectors. On the Jakarta Stock Exchange, bearish sentiment was dominant, with the number of falling stocks overwhelmingly surpassing advancing ones by a ratio of 702 to 101, while 58 stocks remained unchanged.

Key Movers and Economic Indicators

Despite the market-wide downturn, some stocks posted significant gains. Krida Jaringan Nusantara Tbk PT (KJEN) was a top performer, rising 30.56%. In contrast, Minna Padi Investama Tbk (PADI) was among the session's worst performers, declining by 15.00%. In the currency market, the Indonesian Rupiah weakened against the US dollar, with the USD/IDR pair increasing by 0.31%.

Conclusion

The sharp drop in the IDX Composite signals notable investor caution, driven by sector-specific pressures. Future market direction will likely depend on developments within these key industries and broader economic indicators, including currency stability.

FAQ

Q: What caused the IDX Composite Index to fall?
A: The index fell primarily due to significant losses recorded in the Infrastructure, Financials, and Agriculture sectors.

Q: By how much did the Indonesian stock market decline?
A: The IDX Composite Index lost 2.63% of its value, reaching its lowest point in the last three months.

Source: Investing.com