The higher price of 12 kilogram LPG may be a factor that contributed to Indonesia's declining stock index as the higher price is expected to cause inflationary pressures. However, the first three factors seem to be most influential in terms of providing downward pressure on the IHSG. Indonesia's main index fell 1.29 percent to 4,202.81 points on Monday (06/01).

After the release of China's slowing HSBC manufacturing PMI, which was then followed by China's slowing non-manufacturing PMI, Asian stock markets turned mixed with a declining trend since the start of the year. Downward pressures (on Asian markets) originating from China intensified after China's HSBC Services PMI also declined. Other factors that impacted negatively on Asian markets were Ben Bernanke's speech about the improving US economy as well as the plunge of the Nikkei index after the holiday when the yen suddenly appreciated sharply.