Indonesia's equity market finished in negative territory on Wednesday, with the IDX Composite Index ending the session down 1.01% and recording a new 52-week low. Broad weakness in the Agriculture, Basic Industry and Property sectors contributed to the market slide.
The session's largest percentage risers were concentrated among smaller-cap stocks. Super Energy Tbk PT (JK:SURE) led gains, jumping 24.89% or 590.00 points to close at 2,960.00. Inter-Delta Tbk (JK:INTD) added 22.61% or 52.00 points to finish at 282.00, and Pacific Strategic Financial (JK:APIC) climbed 20.16% or 260.00 points to end the day at 1,550.00.
On the downside, Reliance Securities Tbk (JK:RELI) was the heaviest loser among listed issues, falling 15.00% or 90.00 points to 510.00 at the close. Pt Pakuan Tbk (JK:UANG) declined 14.45% or 380.00 points to 2,250.00, while Chandra Asri Petrochemical Tbk (JK:TPIA) dropped 14.74% or 460.00 points to close at 2,660.00. Chandra Asri also fell to a 52-week low on the move.
Market breadth was weak. Declining issues outnumbered advancing ones by 563 to 169, and 126 stocks finished unchanged, underscoring the broad nature of the sell-off.
Commodities traded lower during the session. Crude oil for July delivery fell 1.52% or $1.59 to $102.79 a barrel. Brent oil for July delivery slipped 2.09% or $2.34 to $109.76 a barrel. Precious metals also eased, with the June Gold Futures contract down 1.51% or $68.88 to trade at $4,489.12 a troy ounce.
Currency moves included a softer rupiah against the US dollar and the Australian dollar. USD/IDR was down 0.47% to 17,598.00, while AUD/IDR declined 0.49% to 12,518.04. The US Dollar Index Futures was up 0.27% at 99.37.
Summary
Indonesia's benchmark closed lower, marking a 1.01% drop to a 52-week low amid sector-led weakness. Small-cap winners contrasted with several notable losers, while commodity prices and currency pairs showed modest moves.
Key points
- IDX Composite fell 1.01% to a new 52-week low, led by Agriculture, Basic Industry and Property losses.
- Top gainers included SURE (+24.89% to 2,960.00), INTD (+22.61% to 282.00) and APIC (+20.16% to 1,550.00).
- Largest decliners were RELI (-15.00% to 510.00), UANG (-14.45% to 2,250.00) and TPIA (-14.74% to 2,660.00), with TPIA hitting a 52-week low.
Risks and uncertainties
- Broad sector weakness - The Agriculture, Basic Industry and Property sectors underperformed and could continue to weigh on market breadth.
- Concentrated declines in major names - Large percentage losses in individual stocks may amplify volatility across related peer groups.
- Commodity and currency swings - Downward moves in crude, Brent and gold, together with rupiah fluctuations, could affect earnings and sentiment for commodity-linked and import-dependent companies.