Indonesian Stocks Cap Biggest Monthly Loss in Almost Two Years
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 Name | Index Points Move | % Change | Adv/Dec |
|---|---|---|---|
| Finance | -51.0792 | -2.4 | 18/40 |
| Consumer Goods | -21.1651 | -2.1 | 16/28 |
| Infrastructure Utility | -13.6235 | -2.0 | 17/36 |
| Miscellaneous Industries | -9.9224 | -3.3 | 12/21 |
| Construction Property and Real Estate | -7.2854 | -1.9 | 12/39 |
| Basic Industry and Chemicals | -5.7083 | -0.9 | 22/36 |
| Mining | -3.9736 | -1.3 | 10/24 |
| Trade Services and Investment | -3.8834 | -0.8 | 34/74 |
| Agricultural | -0.5659 | -0.8 | 4/8 |
To see other sector information, click here.
| Top Contributors | Index Points Move | % Change | Volume VS 20D AVG (%) | YTD Change (%) |
|---|---|---|---|---|
| Bank Central Asia | -28.4600 | -3.9 | 156.1 | -3.1 |
| Bank Rakyat Indonesia | -13.1400 | -2.6 | 27.7 | 1.4 |
| Astra Intl. | -9.9860 | -4.2 | 187.2 | -8.3 |
| Ace Hardware | 2.3840 | 9.9 | 116.6 | 15.1 |
| Bank Mega | 3.7100 | 10.5 | 370.8 | -0.8 |
| Barito Pacific | 5.1900 | 5.2 | 15.8 | -13.6 |
| Biggest Gainers | % Change | Index Points Move | Volume VS 20D AVG (%) | YTD Change (%) |
|---|---|---|---|---|
| Rig Tenders Indonesia | 35.0 | 0.0380 | 9,402.6 | 27.4 |
| Trimitra Propertindo | 24.8 | 0.4380 | 210.4 | -10.7 |
| Pollux Investasi Internasional | 24.8 | 0.4690 | 14.6 | -12.1 |
| Biggest Losers | % Change | Index Points Move | Volume VS 20D AVG (%) | YTD Change (%) |
|---|---|---|---|---|
| Envy Technologies Indonesia | -24.9 | -0.1490 | 577.0 | -69.1 |
| Ayana Land International | -24.5 | -0.7500 | -97.3 | -67.7 |
| Maha Properti Indonesia | -24.5 | -4.3700 | 1,730.1 | -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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To contact the reporter on this story: Tassia Sipahutar in Jakarta at ssipahutar@bloomberg.net
To contact the editor responsible for this story: Thomas Kutty Abraham at tabraham4@bloomberg.net
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