FX.co ★ Indonesia Stocks Fall from Record High Amid Ongoing Protests

The IDX Composite fell by 163 points, or 2.3%, reaching 7,770 around midday on Friday. This decline interrupted the upward momentum observed over the previous two trading sessions, resulting in the index’s lowest position in more than two weeks. The downturn was primarily due to traders capitalizing on profits following the index's peak the day before. Market sentiment was further dampened by escalating political tensions, heightened by increasing demonstrations focusing on parliamentary performance that began on Thursday and persisted into today. Additional pressure was exerted by continual foreign capital outflows. Nevertheless, a positive showing on Wall Street the previous night helped limit the extent of the decline. Investors are now turning their attention to critical domestic economic reports scheduled for release next Monday, which include consumer price data for August and trade statistics for July. Every sector experienced declines, with primary consumer goods, property, and raw materials being the hardest hit. Notable underperformers included Bank Jago, down 8.1%; Teknologi Karya Digital, down 7.1%; Hetzer Medical Indonesia, down 5.4%; and Amman Mineral Internasional, down 4.9%.