Today (27/01), Indonesia's benchmark stock index (the Jakarta Composite Index, abbreviated IHSG) fell 2.58 percent to 4,322.78 points. This sharp decline can only be explained by profit taking amid market uncertainty. As I have reported before, the IHSG is highly susceptible to profit taking when negative sentiments arise in the market. Factors that accounted for these sentiments were the continued depreciation of the rupiah exchange rate and falling Asian stock markets (that were impacted by Wall Street's negative ending last week).
Update COVID-19 in Indonesia: 3,372,374 confirmed infections, 92,311 deaths (30 July 2021)
30 July 2021 (closed)
Jakarta Composite Index (6,070.04) -50.69 -0.83%
USD/IDR (14,146) -6.00 -0.04%
EUR/IDR (17,335) +57.05 +0.33%