The Jakarta Composite Index (IHSG) plunged 6.12% during the first trading session, marking the worst-performing stock market in Asia today, Tuesday (March 18).
This sharp decline led the Indonesia Stock Exchange (IDX) to temporarily halt trading at 11:19 AM WIB. However, according to Bloomberg, IHSG showed signs of recovery by the end of the second session, closing at -3.84%.
Meanwhile, Hong Kong’s Hang Seng Index (HSI) led the Asian markets with a 2.46% gain, followed by India’s BSE 100, which climbed 1.60%.
In Southeast Asia, Singapore’s Straits Times Index (STI) briefly surged 1.13%, while Malaysia’s FTSE KLCI (KLSE) gained 1.04% by the second trading session.
IHSG’s downturn was driven by several factors, including the government’s budget deficit and the weakening rupiah, which hit Rp16,406. Additionally, investors shifted their assets toward lower-risk investments, further weighing on the Indonesian stock market.
