The Indonesia Today IDX Composite Lost Another 0.99%

Last minute maneuvers on some blue chip stocks managed to prevent composite index of Indonesia Stock Exchange (IDX) from falling deeper. The index finally closed lower by 0.99%.

The index dropped as much as 1.6% midday, dragged down by miners and banking stocks.

Astra Agro Lestari (AALI) led the losers in the blue chip stocks with 4.71% fall despite relatively strong prices of crude palm oil (CPO) in both futures and physical market.

Perusahaan Gas Negara (PGAS) followed with correction of 4.29%. Bukit Asam also tumbled 4.14%, while

Indo Tambangraya lost 3.86%. Adaro Energy, which dropped 2.13% midday, closed flat, while Bumi Resources returned to positive territory with 0.83% gain.

Kalbe Farma also declined 3.64%, while Danamon and Mandiri down 2.5% and 1.79% respectively. Semen Gresik closed lower by 2.55%, while Indocement flat.

Astra International (ASII) and Bank Central Asia (BBCA) closed lower by 0.74% and 0.92%, while Telkom gained 1.99%. BRI and BNI also supported the index with 3.73% and 1.56% gain.

Other markets closed mixed in the region with Shanghai and Hang Seng dropped 0.68% and 0.31%, while Nikkei and KOSPI gained 0.69% and 0.59% respectively. All Ordinaries also closed higher by 0.56%.