IDX index plunges over trade war sentiment

IDX index plunges over trade war sentiment

The movement of share prices at the Indonesia Stock Exchange in Jakarta on Tuesday (August 20, 2019) ANTARA FOTO/Reno Esnir/pd/Su.

Jakarta (ANTARA) - The Jakarta composite share price index (IDX) closed lower on Monday, sparked by a re-intensification of the US-China trade war tensions.

The index of the Indonesian Stock Exchange decreased 41.09 points, or 0.66 percent, to 6,214.51 points and the index of the 45 most liquid stocks, or LQ45, dropped 7.37 points, or 0.76 percent, to 967.89.

"The index weakened today due to sentiment toward the trade war after (US President) Donald Trump planned to raise duties on the import of goods from China and advised American companies operating in China to find alternative countries," analyst from Indopremier Sekuritas, Mino, remarked here on Monday.

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After opening lower in the morning, the IDX remained in the red zone until the end of share trading.

Monday trading was recorded, with 416,646 transactions and 17.04 billion shares worth Rp8.92 trillion exchanging hands. Gainers were surpassed by decliners, with 151 shares against 252 shares, with 132 shares unchanged.

Regional markets, such as the Nikkei, recorded a decline of 449.87 points, or 2.17 percent, to 20,261.04; Hang Seng fell 499 points, or 1.91 percent, to 25,680.33; and Straits Times weakened 43.26 points, or 1.39 percent, to 3,067.09.

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