Jakarta The Jakarta Composite Index (IHSG) ended lower on Wednesday as the global and domestic spread of COVID-19 cast a shadow on the stock market.
The index of the Indonesian Stock Exchange (BEI) fell 57.1 points, or 0.95 percent, to reach 5,979.07, while the index of the 45 most liquid stocks (LQ45) dropped 10.71 points, or 1.13 percent, to touch 934.89.
"The IHSG weakened due to a negative sentiment arising from (news of) the mutation or new variant of COVID-19. On the other hand, the number of COVID-19 cases has continued to increase, and domestic and global macroeconomic data still have had no high positive impact on the market," Bina Artha Sekuritas analyst M Nafan Aji Gusta said in Jakarta on Wednesday.
Shortly after opening higher, the IHSG remained in the red until the close of trade.
Stocks in eight sectors recorded a correction, with the infrastructure sector deepening its fall by minus 2.49 percent, followed by the basic industry sector and the property sector at minus 2.02 percent and minus 1.63 percent, respectively.
However, stocks in the agricultural sector and the trade sector rose 0.89 percent and 0.17 percent, respectively.
Wednesday's trade posted net foreign buys of Rp76.71 billion.
A total of 1,172,275 transactions were recorded during the day, with 24.71 billion shares, worth Rp14.51 trillion, changing hands. Meanwhile, 143 shares rose, 365 shares fell, and 119 shares remained unchanged.
In the Asian regional markets, the Nikkei Index weakened 123.98 points, or 0.45 percent, to reach 27,444.17; the Hang Seng Index rose 578.62 points, or 2.18 percent, to 27,147.11; while, the Straits Times Index climbed 22.17 points, or 0.78 percent, to reach 2,870.31.
Source: Antara News