The composite index of the Indonesia Stock Exchange (IDX) dropped 1.25% to close at 5,371 on Monday (August 29), but late buying helped cutting earlier 1.67% loss. Foreign investors also booked net sell of Rp151.4 billion, cutting year-to-date net buy to Rp39.24 trillion. As expected, emerging markets in Asia, including Indonesia, were negatively affected by the speech of Federal Reserve Chair Janet Yellen in Jackson Hole last week. Her speech – touching the topics of solid new jobs creation – provided ammunition for analysts and investors to raise speculation about a near-term U.S. Fed Funds Rate hike.
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