Jakarta Stocks Suffer Sharpest Drop in Over Seven Weeks, Underperforming Regional Peers
Deep News
Yesterday
The Indonesian stock market tumbled to its steepest intraday loss in more than seven weeks, as climbing energy prices dampened risk appetite and weighed heavily on investor sentiment across the archipelago.
The benchmark Jakarta Composite Index fell as much as 2.3% on the day, marking the sharpest single-session decline since July 24. This slide outpaced broader regional weakness, with the MSCI Asia Pacific Index retreating by 0.8% over the same period.
Among the key drags on the index were heavyweight firms Merdeka Gold Resources and Bayan Resources, which led the decline as their share prices sank under the pressure of elevated energy costs and a broader sell-off in commodity-linked equities.
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