IDX Composite Plunges 5.41%, Hits 3-Month Low

Market Summary

The Indonesian stock market experienced a significant downturn on Monday, with the IDX Composite Index closing down 5.41%. This decline pushed the index to a new three-month low, reflecting broad-based investor concern.

Sector Performance and Market Breadth

The sell-off was led by substantial losses in key sectors, including Infrastructure, Financials, and Agriculture. Market breadth was overwhelmingly negative, as falling stocks outnumbered advancing ones on the Jakarta Stock Exchange by a wide margin of 764 to 52, with 38 stocks ending unchanged. This indicates a widespread negative sentiment across the market rather than a concentrated decline.

Key Movers and External Factors

Among the session's worst performers were MD Pictures Tbk PT (FILM), GTS Internasional Tbk PT (GTSI), and Energi Mega Persada Tbk (ENRG), all of which fell by 15.00%. In contrast, Saraswanti Indoland Development PT (SWID) was a top performer, rising 29.06% to a three-year high. External markets also showed volatility, with crude and Brent oil prices falling over 4%, while the USD/IDR currency pair saw an increase of 0.24%.

Summary and Outlook

The sharp 5.41% drop in the IDX Composite highlights significant selling pressure driven by weakness in major economic sectors. Investors will be closely watching for signs of stabilization and monitoring external factors, including commodity prices and currency movements, which continue to influence market dynamics.

FAQ

Q: Why did the Indonesian stock market fall?
A: The market fell due to broad-based losses, led by declines in the Infrastructure, Financials, and Agriculture sectors, amidst widespread negative investor sentiment.

Q: How much did the IDX Composite Index fall?
A: The IDX Composite Index declined by 5.41% at the close of trading on Monday, marking a new 3-month low for the index.

Q: How did falling stocks compare to rising ones?
A: Falling stocks significantly outnumbered advancing ones on the Jakarta Stock Exchange by a ratio of 764 to 52, indicating a broad market sell-off.

Source: Investing.com