Indonesia's stock market closed lower on Tuesday, with the IDX Composite Index finishing the session down 0.85% after selling pressure across several key sectors. Losses in Financials, Agriculture and Basic Industry were the principal drivers of the retreat, and overall market breadth reflected the weakness.
At the close in Jakarta, the IDX Composite Index had lost 0.85%.
Among individual performers, Magna Finance Tbk (JK:MGNA) was the session's strongest mover on the index, rising 34.09% - a gain of 30.00 points - to finish at 118.00. Nusantara Almazia (JK:NZIA) climbed 25.00%, adding 29.00 points to end the day at 145.00, while Arthavest Tbk (JK:ARTA) advanced 25.00%, up 500.00 points to close at 2,500.00.
Conversely, a number of stocks recorded steep declines. Tunas Alfin Tbk (JK:TALF) tumbled 14.87% - down 145.00 points - to trade at 830.00 at the close. Asia Pramulia Tbk PT (JK:ASPR) dropped 14.63%, losing 36.00 points to end at 210.00, and Intermedia Capital Tbk (JK:MDIA) fell 14.55%, down 16.00 points to 94.00.
Market breadth was skewed toward decliners, with 473 stocks falling compared with 239 that rose, while 149 issues finished unchanged.
Commodities and currency moves accompanied the equity action. Crude oil for July delivery weakened, down 4.04% or 3.90 to $92.70 a barrel. Brent crude for August delivery, however, rose 3.00% or 2.80 to $96.22 a barrel. Precious metals were essentially flat in the session, with the August Gold Futures contract falling 0.03% or 1.40 to trade at $4,555.00 a troy ounce.
In currency markets, the Indonesian rupiah weakened against the U.S. dollar, with USD/IDR up 0.43% to 17,791.20. AUD/IDR was also higher, rising 0.17% to 12,741.15. The U.S. Dollar Index Futures declined 0.19% to 99.00.
The session combined pronounced individual stock volatility with a modest drop in the headline index. While a handful of names delivered strong percentage gains, a larger set of declines across sectors produced the net negative outcome for the market.