Heavy Selling Halts IDX Again Amid Downgrade Risks
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The Indonesia IDX Composite fell 8% to 7,654, triggering a trading halt due to heavy selling. This decline followed a downgrade by Goldman Sachs, which warned of potential outflows after MSCI raised concerns about ownership transparency. Investor anxiety is heightened by ongoing foreign outflows, a weakening currency, and fiscal deficit issues. The sell-off affected various sectors, with notable declines in Darma Henwa (-15%), Arci Indonesia (-14.4%), and others, reflecting significant pressure on blue chips and cyclical stocks.
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