IHSG tumbles as regional markets on correction mode on Wednesday

IHSG tumbles as regional markets on correction mode on Wednesday

Illustration - Two employees engaged in conversation in the main lobby of the Indonesia Stock Exchange in Jakarta ANTARA FOTO/Aditya Pradana Putra/wsj.

The IHSG weakened owing to tense US-China relations. Tech stocks continued to fall. The other sentiment arose from the temporary postponement of the third-phase clinical trials of the candidate vaccine produced by AstraZeneca.
Jakarta (ANTARA) - The Jakarta Composite Index (IHSG) plunged on Wednesday evening, as regional stock markets recorded a correction.

The index of the Indonesian Stock Exchange (BEI) ended 94.7 points lower, down 1.81 percent, at 5,149.38, while the index of the 45 most liquid stocks (LQ45) plunged 21.72 points, or 2.63 percent, to 804.35.

"The IHSG weakened owing to tense US-China relations. Tech stocks continued to fall. The other sentiment arose from the temporary postponement of the third-phase clinical trials of the candidate vaccine produced by AstraZeneca," Indo Premier Sekuritas analyst Mino stated here on Wednesday.

After opening lower during morning trade, the IHSG was unable to veer away from the negative territory until the close of trade.

On a sectoral basis, shares of nine sectors recorded a correction, with the agricultural sector and the various industrial sectors falling deeper, at minus 3.57 percent, respectively, followed by the basic industrial sector at minus 2.37 percent. However, the property sector rose 1.52 percent.

Wednesday's trade also witnessed net sales of foreign investors reached Rp630.35 billion.

According to trade data, 737,175 transactions were recorded on Wednesday, with 11.27 billion shares, valued at Rp7.42 trillion, changing hands. Gainers were outnumbered by decliners, with 83 shares climbing against 377 shares falling, and 131 shares remaining unchanged.

Regional markets corrected on Wednesday evening, with the Nikkei Index sliding 241.59 points, or 1.04 percent, to 23,032.54; the Hang Seng Index falling 155.41 points, or 0.63 percent, to 24,468.93; and the Straits Times Index weakening 5.25 points, or 0.21 percent, to reach 2,499.51. Related news: IHSG rises as consumer confidence data boosts sentiment
Related news: IHSG ends lower on fall in banking stocks


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