RI stocks extend loss as Wall St. rocks world markets

The benchmark Jakarta Composite Index dove deeper on Tuesday trading as impacts from Wall Street continued impact global stock markets, with debt woes in Europe and the United States escalating.

The Jakarta Composite Index (JCI) was down 2.67 percent to 3,747 points at the midday break, regaining slightly from an earlier loss of about 7 percent a few minutes after market opening on Tuesday morning.

Foreign investors continued the selling spree on Tuesday, while the local investors began buying stocks at prices that had dropped to new lows following a three-day massive sell-off on the Indonesia Stock Exchange and bourses around the world.

The Jakarta index has dropped around 12 percent after marking an all-time high of 4,193 on August 1, when it became the best-performing major stock index in Asia. The index has gained 2 percent this year.