Jakarta - Indonesia's equity benchmark ended the trading day in negative territory on Wednesday, with the IDX Composite retreating 3.82% to reach a fresh three-year trough.
Sector pressure was concentrated in Infrastructure, Financials and Agriculture, which collectively weighed on the market. At the close, declining issues far outnumbered gainers on the Jakarta exchange.
Top performers
- Prima Multi Usaha Indonesia Tbk PT (PMUI) led advancers, finishing up 32.35% or 22.00 points at 90.00.
- Multi Medika Internasional PT Tbk (MMIX) added 24.76% or 130.00 points to close at 655.00.
- MNC Studios International Tbk PT (MSIN) rose 22.16% or 82.00 points to end at 452.00.
Key decliners
- Chandra Asri Petrochemical Tbk (TPIA) fell 15.00% or 285.00 points to close at 1,615.00.
- Indonesia Prima Property Tbk (OMRE) declined 15.00% or 165.00 points to finish at 935.00.
- Pacific Strategic Financial (APIC) decreased 14.97% or 125.00 points to 710.00.
Market breadth was notably weak, with 757 stocks falling versus 49 advancing, and 50 remaining unchanged at the close.
Notable price milestones included Chandra Asri Petrochemical and Pacific Strategic Financial hitting five-year lows following their declines, while Multi Medika Internasional reached an all-time high after its strong gain.
Commodities and currencies
Energy markets were higher in late trade, with crude oil for July delivery up 2.50% or 2.34 to $96.10 a barrel and Brent oil for August delivery gaining 2.30% or 2.21 to $98.21 a barrel. Precious metals moved lower as August Gold Futures slipped 0.75% or 34.00 to trade at $4,485.90 a troy ounce.
Currency moves accompanied the stock market weakness. The USD/IDR pair rose 0.74% to 17,937.80, while AUD/IDR increased 0.45% to 12,855.80. The US Dollar Index Futures registered a 0.12% gain, trading at 99.31.
Wednesday's session displayed broad-based selling across multiple sectors, leaving the benchmark at levels not seen in three years. Market participants will be watching whether the trends in commodities and currency markets continue to influence domestic equity sentiment in coming sessions.