Coronavirus outbreak pushes IHSG to drop on Tuesday

Coronavirus outbreak pushes IHSG to drop on Tuesday

Photo File: Traders observe the Indonesia Composite Index (IHSG) at the Indonesia Stock Exchange (IDX) in Jakarta. ANTARA Foto/Rendhik Andika/gtm

Jakarta (ANTARA) - The Indonesian composite index (IHSG) of the Indonesia Stock Exchange (IDX) closed lower at 22.02 points, or 0.36 percent, to 6,111.18, Tuesday evening amid the market's negative sentiment over the Coronavirus outbreak in Wuhan, China.

In the meantime, the index of the 45 most liquid stocks, or LQ45, plunged 3.12 points, or 0.31 percent, to 1,000.67.

"The 2019-nCoV outbreak drove IHSG to drop, but it will ease as few people who were allegedly infected by the virus have recovered," the Indopremier Securities analyst, Mino, said in Jakarta.

Indonesia's composite index had dropped since Tuesday morning at 22.99 points, or 0.37 percent, to 6,110.22. Meanwhile, at the opening of the market, the index of the 45 most liquid stocks also depreciated at 6.21 points or 0.62 percent to 997.58.

Before closing, the net foreign sell reached Rp469.29 billion on the Indonesian stock market. Meanwhile, 458,408 transactions of 6.29 billion stocks worth Rp6.71 trillion were recorded in today's trading.

Throughout the day, regional markets that depreciated this evening comprised Nikkei plunging 127.8 points, or 0.55 percent, to 23,215.7, and the Straits Times Index plunging at 58.77 points, or 1.88 percent, to 3,181.25. Meanwhile, China's stock markets remained closed today after authorities extended the Lunar New Year break by three days.

The trading was temporarily shut down to avoid a market crash because of the Coronavirus outbreak. China's authority announced that stock markets will resume on February 3. Related news: 2019's CPI inflation stays at target corridor: BI

Related news: IHSG strengthens in run up to year-end holidays