D’ORIGIN – Louisa Rahardjo and Veni Fitriani, Indonesian stocks declined on Tuesday with investors monitored global sentiments. Nine sectors retreated amid capital outflows while miscellaneous industries up more than 1% and Rupiah made slight improvement.
Jakarta composite index fell 47.14 points (-0.727%) to 6,441.28 with LQ45 fell 0.98% at 1,007.79. Trading volume were 12.597 billion shares worth of Rp9.433 trillion including transaction of Rp2.884 trillion in negotiation market. Foreign investors sold a net Rp1.1 trillion in regular market during midday trade. 150 shares rose, while 300 declined, 119 unchanged, and 132 untraded.
Lippo Group slumped with LPPF plunged to its limit low after the company cut its dividend to 50% of net income in 2018 from 70% as profit slid 42%.
According to JISDOR, the currency added 3 points (+0.02 %) to 14,146, while Spot rate added 10 points (+0.071%) to 14,115.00 against the USD.
Asian and European stocks were mixed with investors digested China’s tax cut and lower growth forecast while awaiting developments of trade deal.
China’s Premier Li Keqiang announced official economic growth target this year will be 6.0% to 6.5%, lower than the growth of 6.6% in 2018, the slowest pace since 1990.
Oil prices declined with Brent slipped 52 cents (-0.79%) at $65.15 per barrel while U.S. West Texas Intermediate fell 43 cents (-0.76%) to $56.16 barrel.
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