Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

Bleak economic outlook casts shadow over Indonesian stock market

  • Riska Rahman

    The Jakarta Post

Jakarta   /   Wed, October 9, 2019   /  03:40 pm
The Jakarta Post Image
Traders work after the opening bell at the New York Stock Exchange (NYSE) on Tuesday in New York City, United States. Indonesian stocks have continued to fall this week amid growing fears of a global recession(AFP/Johannes Eisele)

Growing concern about a possible global recession continues to cast a shadow over the Indonesian stock market with most blue-chip stocks under persistent pressure in the past two weeks amid a lack of appetite among both local and foreign investors. The Jakarta Composite Index (JCI), the main gauge of the Indonesia Stock Exchange (IDX), has been in the red for the past 13 days. The index fell 3.5 percent to 6,023 at the close of afternoon trading on Wednesday from 6,230 on Sept. 26. The index has fallen by 2.76 percent year-to-date (ytd). Like in other stock markets, the majority of Indonesian stocks lost ground as weak economic data in Europe and other developed countries fueled fears of a global recession, analysts said. MNC Sekuritas’ head of research Thendra Chrisnanda said on Tuesday that growing concerns over the global economy and the lack of reco...