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Jakarta Post

Bleak economic outlook haunts RI stock market

  • Riska Rahman

    The Jakarta Post

Jakarta   /   Thu, October 10 2019   /  02:06 am
Big screen: An employee walks past the Indonesia Stock Exchange (IDX) trading board in Jakarta on Friday. (Antara/Indrianto Eko Suwarso)(IDX) trading board in Jakarta on Friday. (Antara/Indrianto Eko Suwarso)

Big screen: An employee walks past the Indonesia Stock Exchange (IDX) trading board in Jakarta on Friday. (Antara/Indrianto Eko Suwarso)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 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 The...