Jakarta Composite Index Declines 1.84% on US Contraction in Q1-2014
Asian stocks declined on Friday's trading day (30/05) after a government report showed that the US economy - the world's largest economy - shrank by one percent (year-on-year) in the first quarter of 2014, the country's first contraction since early 2011. The contraction was far worse than the initial forecast at 0.1 percent. The main cause of the contraction was the severe winter that hit the USA. The benchmark stock index of Indonesia (Jakarta Composite Index) fell 1.84 percent to 4,893.91 points on Friday (30/05).
Around eight billion shares, with a value of approximately IDR 10 trillion (USD $870 million), were traded on the Indonesia Stock Exchange (IDX). Foreign investors accounted for 55 percent (IDR 5.4 trillion) of trading. However, foreign investors sold more stocks than they bought (recording net selling of IDR 643 billion).
Click here for an analysis of the performance of the Indonesian rupiah exchange rate oon Friday
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