Negative Sentiment Hits Stock Market

The Composite Stock Price Index (IHSG) lost 2.81 percent on Thursday as a fall in share prices continued at the Indonesia Stock Exchange (IDX). In total, the index has lost 7.03 percent over the past five days.

KOMPAS/PRIYOMBODO

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JAKARTA, KOMPAS – The Composite Stock Price Index (IHSG) fell by 170.65 points, a 2.81 percent drop, to 5,909 at the close of trading on Thursday. Over five consecutive trading days, the index has declined by 7.03 percent.

The weakening of the share prices was mainly caused by the strengthening of the US dollar against the majority of world currencies, including the rupiah, which declined sharply during the past several days. Moreover, there was no domestic issue that could bring a positive sentiment to halt the fall of the Indonesian currency.