The Chinese devaluation put pressure on rupiah which is feared to have negative impact on the performance of listed companies, analysts said.Jakarta (ANTARA News) - The Jakarta composite index shrank 3.1 percent on Wednesday to a record law at 4,479.49 points this year on Chinese yuan devaluation.
The index of the Indonesian Stock Exchange closed 143.10 points lower and the index of 45 most liquid stock plunged 3.69 percent to 752.31 points .
Investors continued big share sales following the Chinese currency devaluation in a bid to boost exports.
The Chinese devaluation put pressure on rupiah which is feared to have negative impact on the performance of listed companies, analysts said.
Chief researcher of NH Korindo Securities Indonesia Reza Priyambada said the cabinet reshuffle did not help much to prevent the shrinking value of rupiah and the fall of index.
Trade was marked with foreign net sell of Rp763.768 billion on Wednesday .
Reza hoped that the cabinet reshuffle would help prevent further fall in the JCI on Thursday.
He said the market would positively react to the speech of President Joko Widodo that the economy would grow more than 5 percent this year.
There were 230,267 transactions in Wednesdays trade with 3.83 billion shares valued at Rp4.63 trillion changing hands.
Decliners outnumbered gainers by 278 to 37 shares with 67 share remaining flat.
Regional markets such as Hang Seng, Nikkei and Straits Times recorded losses.(*)
Editor: Heru Purwanto
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