JAKARTA Jan 30 Indonesian stocks fell
as much as 1.6 percent on Thursday morning, hurt by worldwide
market fears over the U.S. Federal Reserve decision to trim its
bond purchases by another $10 billion.
Asian shares took a spill as strains in emerging markets
returned with a vengeance following the U.S. tapering
announcement. Also, a measure of Chinese manufacturing slipped
to a six-month low for January and gave speculators a fresh
excuse to target risky assets.
"Stronger U.S. dollar is feared to be a negative sentiment
for some developing and emerging countries, which are still
struggling with the trade deficit and foreign debt," said
Batavia Prosperindo Sekuritas in a note on Thursday.
Semen Indonesia and Holcim Indonesia
were down more than 2 percent each, while Astra International
was down 1.56 percent on concern that these cement and
auto makers are likely to post negative monthly sales numbers
due to the recent floods in the country.
However, the drop was redeemed by better trade surplus of
$800 million seen in December, announced by Finance Minister
At 0500 GMT, Jakarta composite index was down 0.68 percent.
Blue chip index slid 0.87 percent, drove by
miscellaneous and basic industry sectors.
which were down 1.2 percent each.
(Reporting by Andjarsari Paramaditha; Editing by Gopakumar