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JCI down 0.49% at Wednesday's close
The Jakarta Composite Index (JCI) closed on a negative note on Wednesday to finish at 5,448
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he Jakarta Composite Index (JCI) closed on a negative note on Wednesday to finish at 5,448.06 points, down by 0.49 percent from the previous day's trading.
Indonesia Stock Exchange (IDX) data showed that 213 stocks ended in the red while 85 stocks strengthened and 77 stocks were stable by 4 p.m. on Wednesday, kontan.co.id reported.
Eighty percent of stocks traded on the IDX failed to make improvements during the closing session, with the miscellaneous industry sector recording the biggest fall, dropping by 1.42 percent, followed by trade and infrastructure with 1.06 percent and 0.92 percent, respectively.
The only sectors to end in the black were agriculture and finance, which rose by 0.47 percent and 0.17 percent, respectively.
The volume of trade between the midday and closing sessions was worth Rp 5.82 trillion (US$448.14 million), involving 5.44 billion shares in 212,485 transactions.
According to BNI Asset Management fund manager Hanif Mantiq, the correction was triggered by investors who anticipated the sentiments from the US market regarding the Federal Reserve's plan to increase its benchmark interest rate this year and the European Central Bank's (ECB) meeting.
'As long as Indonesia's economic fundamentals remain strong, foreign capital will keep entering the domestic financial market,' Hanif said as quoted by Antara news agency.
In the regional market, Hong Kong's Hang Seng and Japan's Nikkei fell by 0.96 percent and 0.59 percent, respectively.
Singapore's Straits Times also failed to record growth in the final trading session, weakening by 0.12 percent. (nfo)(++++)
