Indonesian Stocks Fall 2.07% on Broad-Based Sector Weakness

Indonesia’s primary stock benchmark, the IDX Composite Index, ended Friday’s session with a significant loss of 2.07%, as broad-based selling pressure hit key sectors of the economy.

Widespread Declines in Jakarta

The negative sentiment was evident across the Jakarta Stock Exchange, with declining stocks substantially outnumbering advancers by a margin of 616 to 101, according to closing data. An additional 118 stocks finished the session unchanged.

The downturn was led by heavy losses in the Infrastructure, Financials, and Agriculture sectors, signaling broad investor concern. This widespread decline indicates a risk-off sentiment among market participants.

Notable Stock Movers

Several companies experienced steep declines. The session's worst performers included:

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• Bekasi Asri Pemula Tbk (BAPA), which plunged 15.00%.
• PT Wahana Interfood Nusantara Tbk (COCO), which fell 14.89%.
• Niramas Utama Tbk PT (JELI), which dropped 11.11% to an all-time low.

In contrast, a few stocks bucked the negative trend with significant gains. M Cash Integrasi Tbk PT (MCAS) surged 34.59%, while Alakasa Industrindo Tbk (ALKA) gained 25.00% to close at an all-time high.

Currency and Commodity Context

The equity market sell-off coincided with a weakening of the local currency. In foreign exchange markets, the Indonesian Rupiah depreciated against the U.S. dollar, with the USD/IDR pair rising 0.37% to 17,955.40.

In commodities, global energy prices also fell. Crude oil futures for September delivery were down 2.28% to $90.09 a barrel, while Brent oil for September delivery fell 2.59%. Gold futures, however, posted a modest gain of 0.10%.