Friday, 14 February 2020 12:37

COVID-19 Outbreak Pushes IHSG to Drop on Thursday

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A visitor walks in front of a giant screen showing the Indonesian composite index (IHSG) at the Indonesia Stock Exchange (IDX) in Jakarta, Tuesday (February 4, 2020) A visitor walks in front of a giant screen showing the Indonesian composite index (IHSG) at the Indonesia Stock Exchange (IDX) in Jakarta, Tuesday (February 4, 2020) ANTARA FOTO/Reno Esnir/hp/gtm

 The Indonesian composite index (IHSG) of the Indonesia Stock Exchange (IDX) closed lower 41.13 points, or 0.7 percent, to 5,871.95, on Thursday evening amid the coronavirus outbreak in the past weeks in more than 25 countries outside mainland China.

In the meantime, the index of the 45 most liquid stocks, or LQ45, also plunged 6.77 points, or 0.7 percent, to 954.21.

"The market remains nervous over the outbreak, while on the domestic front, there has been no positive catalyst and the trade volume has been slightly down," Indopremier Securities analyst, Mino, said in Jakarta.

Despite the drop, Indonesia's composite index opened higher 8.83 points (0.15 percent higher), this morning, but an hour after the market opened, it dropped to the red zone throughout the day.

Before the closing, IDX recorded a net foreign buy at Rp49.43 billion, while 426,166 transactions of 6.17 billion stocks worth Rp6.81 trillion were traded today on the stock market.

Meanwhile, the regional markets that dropped this evening comprised Nikkei plunging 33.5 points, or 0.14 percent, to 23,827.7; Hang Seng index depreciating 93.7 points, or 0.34 percent to 27,730; and Straits Times index declining by 3.28 points, or 0.1 percent, to 3,220.09. (ANTARA)

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