Indonesian Stocks Cap Biggest Monthly Loss in Almost Two Years

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Indonesian stocks posted the biggest monthly decline since March 2018 as concerns over the impact of the spread of a deadly virus from China triggered a selloff.

The Jakarta Composite Index tumbled 1.9% to 5,940.048 on Friday, the biggest daily drop since Aug. 5, extending losses this week alone to 4.9%. The index lost 5.7% this month.

While the selloff was triggered by investor concerns over the novel coronavirus from China, it may only be temporary and provide investors a buying opportunity, Mirae Asset Sekuritas analyst Hariyanto Wijaya said by phone.

Finance stocks led the market lower, as all sectors lost; 306 of 676 shares fell, while 145 rose.

Private lender PT Bank Central Asia contributed the most to the index decline, decreasing 3.9%. Information technology company PT Envy Technologies Indonesia had the largest drop, falling 24.9%.

Terminal users can read more in our markets live blog.

Insights

  • In the past year, the index had a similar or greater loss once
  • So far this week, the index fell 4.9%, heading for the biggest decline since the week ended May 17
  • This month, the index fell 5.7%, heading for the biggest decline since March 2018
  • The index declined 9.1% in the past 52 weeks. The MSCI AC Asia Pacific Index gained 5.7% in the same period
  • The Jakarta Composite Index is 10.5% below its 52-week high on April 18, 2019 and 3% above its low on May 20, 2019
  • Jakarta Composite Index is trading at a price-to-earnings ratio of 18.6 on a trailing basis and 13.9 times estimated earnings of its members for the coming year
  • The index’s dividend yield is 2.6% on a trailing 12-month basis
  • Jakarta Composite Index’s members have a total market capitalization of IDR7.03 quadrillion
  • 30-day price volatility rose to 11.05% compared with 9.74% in the previous session and the average of 9.82% over the past month
Sector NameIndex Points Move% ChangeAdv/Dec
Finance-51.0792-2.418/40
Consumer Goods-21.1651-2.116/28
Infrastructure Utility-13.6235-2.017/36
Miscellaneous Industries-9.9224-3.312/21
Construction Property and Real Estate-7.2854-1.912/39
Basic Industry and Chemicals-5.7083-0.922/36
Mining-3.9736-1.310/24
Trade Services and Investment-3.8834-0.834/74
Agricultural-0.5659-0.84/8

To see other sector information, click here.

Top ContributorsIndex Points Move% ChangeVolume VS 20D AVG (%)YTD Change (%)
Bank Central Asia-28.4600-3.9156.1-3.1
Bank Rakyat Indonesia-13.1400-2.627.71.4
Astra Intl.-9.9860-4.2187.2-8.3
Ace Hardware2.38409.9116.615.1
Bank Mega3.710010.5370.8-0.8
Barito Pacific5.19005.215.8-13.6
Biggest Gainers% ChangeIndex Points MoveVolume VS 20D AVG (%)YTD Change (%)
Rig Tenders Indonesia35.00.03809,402.627.4
Trimitra Propertindo24.80.4380210.4-10.7
Pollux Investasi Internasional24.80.469014.6-12.1
Biggest Losers% ChangeIndex Points MoveVolume VS 20D AVG (%)YTD Change (%)
Envy Technologies Indonesia-24.9-0.1490577.0-69.1
Ayana Land International-24.5-0.7500-97.3-67.7
Maha Properti Indonesia-24.5-4.37001,730.1-34.3
  • The Indonesian rupiah strengthened against the U.S. dollar to 13,655 from 13,657
  • The benchmark 10-year bond fell and the yield rose 1.8 basis points to 6.665%
  • The MSCI AC Asia Pacific Index declined 0.2%
  • The S&P 500 rose 0.3% in the previous session. The MSCI Emerging Markets Index closed at 1,068.61, down 0.4%

For a full list of how stocks have performed, click here.

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