Jakarta - Indonesia's stock market ended Wednesday's session in negative territory, with the IDX Composite Index closing down 0.67% as losing sectors outpaced winners. The Financials, Agriculture and Basic Industry groups were the primary contributors to the downward pressure on the benchmark.
Top and bottom movers
Among the session's strongest performers were Pt Oxala Energy International Tbk (PIPA), which surged 28.23% - gaining 35.00 points to finish at 159.00; Tifa Finance Tbk (TIFA), up 24.84% or 76.00 points to close at 382.00; and Fuji Finance Indonesia Tbk PT (FUJI), which climbed 24.04% or 50.00 points to end the day at 258.00.
On the other side of the tape, Fast Food Indonesia Tbk (FAST) logged the steepest decline, dropping 14.72% or 78.00 points to settle at 452.00. Transcoal Pacific Tbk PT (TCPI) fell 12.42% or 380.00 points to close at 2,680.00, marking a move to five-year lows for the share price. Dwi Guna Laksana Tbk PT (DWGL) also declined, down 11.86% or 42.00 points to finish at 312.00.
Market breadth and activity
Declining issues outnumbered advancing ones on the Jakarta Stock Exchange by 380 to 266, while 183 stocks finished unchanged. The session displayed a relatively broad retreat in prices, even as individual small-cap names recorded outsized gains.
Commodities and currencies
Commodity prices were mixed during the session. Crude oil for October delivery rose 0.26% or 0.22 to $84.28 a barrel, and Brent oil for October delivery increased 0.20% or 0.18 to $91.20 a barrel. The December Gold Futures contract eased 0.15% or 6.85 to trade at $4,413.75 a troy ounce.
On the currency front, USD/IDR moved lower by 0.13% to 17,822.90, while AUD/IDR declined 0.22% to 12,620.97. The US Dollar Index Futures was down 0.20% at 99.36.
Context and closing note
Wednesday's close left the IDX Composite lower on net, reflecting sector-led weakness despite select individual share rallies. Investors tracked moves in commodities and the currency complex as part of the session's cross-market backdrop.