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Jakarta Post

Indonesian stocks record narrow losses as OJK, IDX prepare crisis measures

  • Made Anthony Iswara, Adrian Wail Akhlas and Marchio Irfan Gorbiano

    The Jakarta Post

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Jakarta   /   Fri, February 28, 2020   /  09:38 pm
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Visitors take pictures of the Indonesia Stock Exchange (IDX) trading board in Jakarta on Monday, Dec. 30, 2019. (JP/Dhoni Setiawan)

Indonesian stocks recorded narrow losses on Friday after plummeting more than 4 percent earlier in the day amid global fears of a coronavirus pandemic. The Jakarta Composite Index (JCI), the main gauge of the Indonesia Stock Exchange (IDX), fell as much as 4.47 percent to 5,288.37, a level unseen since December 2016, during Friday’s intraday session before slowly rebounding to end the trading day at 5,452.7, 1.5 percent down from the previous close. It was an extension of its 2.69 percent loss the previous day, as spooked investors dumped stocks across Asia. Foreign investors recorded net sales of Rp 17.21 billion (US$1.2 million) on Friday, taking the total net sales this year to Rp 4.72 trillion, IDX data shows. “We’re not the worst. This is a global phenomenon caused by the extraordinary panic over the novel coronavirus [outbreak],” IDX president direc...