IHSG closes lower over weekend on global stock markets correction

Jakarta, (ANTARA News) - The Jakarta composite index (IHSG) closed lower over the weekend, as the global stock markets were corrected.

The index of the Indonesian Stock Exchange (BEI) fell 74.89 points, or 1.16 percent, to 6,383.07. The index of 45 most liquid stocks, or LQ45 slid 14.33 points, or 1.42 percent, to 994.98.

"The IHSG faced negative sentiments due to fear over the global economic slowdown and North Koreas comeback on the construction of the guided missile launch area. All these increase uncertainty and risk yet again," analyst William Hartanto of Panin Sekuritas said on Friday.

On the domestic side, the increase in the countrys foreign exchange reserves is unable to improve IHSG, as investors are focusing on the April 2019 general elections, he said.

After the IHSG opened lower, it stayed in the red zone throughout the day until the closing of the stock exchange.

The closure of the IHSG was accompanied by net foreign selling of Rp609.68 billion by investors.

Trade frequency was recorded with 396,402 transactions and 16.66 billion shares worth Rp9.24 trillion changing hands. There were 131 gainers as against 274 decliners and 131 shares unchanged.

Among the Asian regional markets, Nikkei index was down 430.45 points, or 2.01 percent, to 21,025.56; Hang Seng fell 551.03 points, or 1.91 percent, to 28,228.42; and Strait Times decreased 33.61 points, or 1.04 percent, to 3,195.87.

Source: Antara News

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