The tight US presidential race prompted the market to exercise caution. On the other hand, the market is awaiting the announcement of Indonesia's third-quarter gross domestic product (GDP) tomorrow, (which is) projected to remain minus.
Jakarta (ANTARA) - The Jakarta Composite Index (IHSG) ended lower on Wednesday as the market turned cautious tracking the tight US presidential race and Indonesia’s third-quarter GDP data projections.

The index of the Indonesian Stock Exchange (BEI) closed 54.25 points lower, or down 1.05 percent, at 5,105.2, while the index of the 45 most liquid stocks (LQ45) fell 13.64 points, or 1.72 percent, to touch 781.13.

"The tight US presidential race prompted the market to exercise caution. On the other hand, the market is awaiting the announcement of Indonesia's third-quarter gross domestic product (GDP) tomorrow (which is) projected to remain minus. If so, Indonesia will fall into recession," Bina Artha Sekuritas analyst M Nafan Aji Gusta said here on Wednesday.

After opening higher, the IHSG remained in the positive zone in the first session. But in the second session, it fell and remained unable to move away from the red zone until the close of trade.

Stocks in nine sectors witnessed a correction, with the financial sector recording the steepest drop of 1.72 percent, followed by the property sector and the industrial sector, which declined 1.68 percent and 1.56 percent, respectively. Only stocks in the trade sector rose by 0.34 percent.

Wednesday's trade posted net foreign purchases of Rp7.74 billion.

A total of 711,652 transactions were recorded on Wednesday with 13.1 billion shares, worth Rp8.02 trillion, changing hands. Meanwhile, 158 shares rose, 281 shares fell, and 160 shares remained unchanged.

In the Asian regional markets, the Nikkei index climbed 399.75 points, or 1.72 percent, to 23,695.23; the Hang Seng Index plunged 53.59 points, or 0.21 percent, to 24,886.14; and the Straits Times Index rose 17.67 points, or 0.71 percent, to 2,514.88.

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Translator: Citro Atmoko/Suharto
Editor: Rahmad Nasution
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