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IDX Composite Got Down, South Korea GDP Broke The Global Stock

by Didimax Team

This would be a bit shocking trading news, especially for Indonesia. It is because the Indonesia Composite Index (IDX Composite) was going down to the lowest level or even touched the red line in the last six weeks in today's trading. The derivation of IDX Composite is more than a per cent on today's trading activity.

Besides, the global stock exchange is also got down among the prospect concern about the global growth that showed by the South Korea economic data which is getting weaker nowadays. The IDX Composite itself was predicted to be in the red line between 6.402 until 6.431 after the IDX composite closing on April 24 in 6.447,88.


So, What Makes The IDX Composite Got Down?

Many analysts said that the derivation of IDX Composite happened because many reasons which could affect it. One factor that brought impact towards the decrease of IDX Composite was the derivation which also happened to Rupiah to Dollar. This is the main factor which impacted the movement of IDX Composite. It was quite shocking but it's apart of the dynamic.

Not only the Rupiah which was getting weaker nowadays but it also because of the IDX Composite was burdened by the financial performance report of few companies in Indonesia. Taye Shim, as the head of the equity and the capital market, said that most of the companies' report was really far from the expectation. It brought more problems.

At the beginning of the trading, the IDX Composite is still on the 6.407,695 position. At that time, there are at least 127 companies stock increased, and also there are 185 companies stock which was going down and weaker. Besides, there is 124 companies' stock which was on the stagnance position, and no trade in 292 stock.

Factors That Impacted The Weakness of Rupiah to Dollar

As it has mentioned above that the down of the Rupiah currency to dollar became a factor affected the IDX Composite. There is a question followed this issue, what makes the Rupiah weaker nowadays? It happened because the Asian currencies which also got down. Asian currencies got down was triggered by the bad South Korea economic data that was released.

The derivation of Asian currencies was started from South Korea Won which was getting weaker as much as 0.85% to 1.160,62 Won per USD. The derivation of Won happened because of its bad economic data. The GDP of South Korea noted that there's a great down in a decade which affected the low investment and export to South Korea.

It became a not really good issue for South Korea. It is because South Korea is the biggest fourth country which has the strongest economic condition in Asia. And its weakness could affect the direction of global technology and trading, especially it can bring down the risked economy which was out of the US. It's so powerful, right?

Rupiah to Dollar Derivation, Is It Okay?

Even if the derivation of Rupiah became one of the factors which brought impact towards the IDX Composite, but it was actually not that bad in the dynamic of the currency. The derivation of Rupiah today is still in a normal way, normal level. It's because the dollar was increased after its derivation in the last two weeks.

The derivation of IDX Composite mostly happened in manufacturing and property sector as much as 2%. Other sectors also got down, such as the consumer sector 1.9%, agri sector 1.3%, financial sector 1%, mining sector 0.8%, and the infrastructure 0.2%. The derivation of these sector stock was definitely impacted the IDX Composite and also the Rupiah Currency to USD.



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