Indonesian Stocks Slide 1.7% as All Sectors Sink

Jakarta. Indonesian stocks tumbled 1.7% by midday Monday, with the benchmark index shedding 111 points to 6,429 as all sectors ended the first trading session in negative territory.

The index moved in a range of 6,420 to 6,543 during the session.

Basic materials led the decline, falling 2.99%, followed by energy stocks at 2.94%, infrastructure at 2.74%, non-primary consumer goods at 2.09%, and transportation at 1.96%.

The blue-chip stocks tracked by the LQ45 index also fell 1.05%.

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Data from the Indonesia Stock Exchange (IDX) showed 17.23 billion shares had changed hands during the first session, with total transaction value reaching Rp 8 trillion ($453.11 million) across 1,192,569 transactions.

A total of 144 stocks advanced, while 517 declined and 122 remained unchanged.

The selloff came despite most major Asian markets trading higher during the first session. Shanghai gained 0.03%, Hong Kong’s Hang Seng Index rose 0.38%, and Singapore’s Straits Times Index edged up 0.14%. Japan’s Nikkei, however, fell 0.97%.

Merdeka Gold Resources (EMAS) and Bayan Resources (BYAN) were among the biggest decliners. EMAS plunged 12.29% to Rp 7,675, while BYAN dropped 11.13% to Rp 10,975.

Other top losers included Lima Dua Lima Tiga (LUCY), which fell 9.79% to Rp 350; Agro Bahari Nusantara (UDNG), which declined 9.24% to Rp 540; and Ketrosden Triasmitra (KETR), which dropped 7.85% to Rp 880.

On the other hand, four stocks hit the upper auto rejection limit (ARA) and ranked among the top gainers.

Semacom Integrated (SEMA) jumped 34.93% to Rp 197, while Leyand International (LAPD) surged 34.78% to Rp 93.

Fortune Indonesia (FORU) climbed 25% to Rp 4,650, while Alakasa Industrindo (ALKA) also gained 25% to Rp 6,225.

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