Stocks Cut Losses, IDX Composite Down 1.28% - The Indonesia Today

Composite index of Indonesia Stock Exchange (IDX) closed lower by 1.28% Thursday (Feb 10) after falling as much as 2%. Some blue chip stocks cut their losses in the afternoon session.

Some blue chip stocks turned positive. Semen Gresik closed higher by 2.47%, while Danamon and Astra Agro Lestari gained 1.63% and 0.23%. Astra International and Adaro Energy also closed flat despite substantial correction in the morning session.

Bank Central Asia dropped as much as 5%, but then closed lower by 3.4% only. Unilever also slashed 4% in the morning session, but closed lower by 2.33%.

The rest of the top 20 stocks closed in red. BRI declined 1.62% with over Rp250 billion worth of shares exchanged hands. Bumi Resources also down 1.89% with over Rp300 billion worth of shares exchanged hands.

Kalbe Farma and Ramayana Lestari, meanwhile, tumbled 4.39% and 5.33% respectively.

Banking stocks were mainly under pressure, except Danamon, CIMB-Niaga, and OCBC-NISP, which surged 8.2% and 6.5% respectively. Coal stocks also declined further, except Borneo Lumbung Energy, which bounced back with 1.29% gain.

Other markets closed mainly lower in the region, except All Ordinaries (+0.13%) and Shanghai (surged 1.62%). Bursa Malaysia tumbled 2.09%, followed by Hang Seng (-1.97%), Kospi (-1.81%), Straits Times (-1.64%), and nkkei (0.11%). BSE Sensex also closed lower by 0.76%.