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Jakarta Post

Rupiah, share prices dive deeper

  • Marchio Irfan Gorbiano and Riska Rahman

    The Jakarta Post

Jakarta   /   Thu, May 16 2019   /  02:34 am

Share prices on the Indonesia Stock Exchange (IDX) and the rupiah further weakened on Wednesday amid a report on the worsening of the country’s trade deficit and negative sentiment from escalating trade tensions between the United States and China.The rupiah was being traded at 14,448 against the US dollar on Wednesday, data from Jakarta Interbank Spot Dollar Rate (JISDOR) revealed, slightly lower than 14,444 per US dollar the previous day, Bloomberg data revealed that the currency was being traded at 14,463 per US dollar.After briefly regaining its strength in the first hours of Wednesday’s trading session, the Jakarta Composite Index (JCI) — the main gauge of the IDX — plummeted and closed at 5,980.89, or down 1.49 percent compared to the day before. The figure was also the lowest position the index had reached this year. The IDX recorded a total of Rp 459.1 billion (US$31.73 m...