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Jakarta Post

Wuhan coronavirus to affect local stock market until outbreak contained

  • Adrian Wail Akhlas and Made Anthony Iswara

    The Jakarta Post

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Jakarta   /   Tue, January 28, 2020   /  06:21 pm
The Jakarta Post Image
Visitors take pictures of the Indonesia Stock Exchange's trading board in Jakarta on Dec. 30, 2019. (JP/Dhoni Setiawan)

Negative sentiments stemming from China’s coronavirus outbreak are to continue infecting the local stock market for some time until global authorities manage to contain the spread of the deadly virus as investors flee to save haven assets, analysts are saying. The main gauge of the Indonesia Stock Exchange (IDX), the Jakarta Composite Index, declined 0.36 percent on Tuesday to 6,111.18 after falling as much as 1.78 percent on Monday as global jitters over the spreading virus reached the local bourse. Foreign investors recorded almost Rp 470 billion (US$34.54 million) of net sell on Tuesday with stocks of diversified petrochemical giant PT Barito Pacific, privately owned Bank Central Asia (BCA) and state-owned Bank Rakyat Indonesia (BRI) becoming the index’s laggards. On the day, Japan’s benchmark index, the Nikkei 225, fell 0.5 percent after plunging more than ...