Foreign investors continued selling local stocks on Tuesday (Jan 17) as they booked net sell of Rp115.3 billion yesterday, bringing year-to-date net sell to Rp1.45 trillion. This signals a bearish market as the global markets and economy are immersed in uncertainty. The composite index of the Indonesia Stock Exchange (IDX) ended down 0.06% to 5267 on Tuesday with late selling cut index’s gain during the day trading. Meanwhile the rupiah weakened further to Rp13,381 against the U.S. dollar. Trading value only reached Rp4.67 trillion, less than its average daily trading value of Rp5.25 trillion, meaning many investors opted to wait for market development. As there are no fresh catalysts or positive news in the domestic front, the political issues has become the main concern, the market sentiment and direction are mostly driven by regional and global factors.
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