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Jakarta Post

Consumer goods stocks worst performers in 2019

  • Riska Rahman

    The Jakarta Post

Jakarta   /   Thu, December 19, 2019   /  12:48 pm
The Jakarta Post Image
Mom-and-pop shop selling consumer goods in Padang, West Sumatra.(Shutterstock/-)

Many share prices on the Indonesia Stock Exchange (IDX) declined this year, but consumer goods stocks suffered the most and became the worst performers. Despite being deemed a resilient sector by market players because people always buy consumer goods regardless of the economic situation, the price index of those stock declined by 20.92 percent year-to-date (ytd) as of Dec. 18. The decline was the largest among all other sectors that recorded declines throughout this year, such as mining, miscellaneous industry, manufacturing, agriculture and trade and the service and investment sectors. The sharp decline of prices in the consumer goods sector was mainly caused by a fall in the prices of large-cap consumer goods stocks, which contributed a big weighting on the stock price index. Consumer goods giant PT Unilever Indonesia’s share price, for example, declined by 9.86 perc...