Jakarta, ThedailyID — IHSG continued its sharp decline during the first trading session on Tuesday after dropping 4.04 percent to 6,332.56.
Data from the Indonesia Stock Exchange showed 521 stocks weakened, while only 110 stocks gained and 169 others remained unchanged.
The index opened trading in the red zone and continued to weaken throughout the morning session. Total trading value reached Rp8.9 trillion with transaction volume touching 15.7 billion shares.
Several major stocks dragged the market lower, including banking and technology sector shares.
Market analysts linked the decline to continued pressure from global financial uncertainty, rising oil prices, and weakening investor sentiment toward emerging markets.
Concerns over escalating geopolitical tensions in the Middle East also continued to affect regional markets, including Indonesia.
The rupiah also remained under pressure against the US dollar amid strong foreign capital outflows from domestic equities.
Investors meanwhile closely monitored movements in global commodity prices and expectations surrounding future interest rate policies from major central banks.
Despite the correction, analysts said domestic market players still awaited further economic data and government policy responses to stabilize market confidence.
