JAKARTA. Jakarta Stock Price Composite Index (IHSG) was once again corrected by 0.18% or 13.45 points to 7,313.31 at the closing bell yesterday (5/12) due to massive downturns in state-owned issuers.

This contraction put an end to a positive downtrend within the past two days, in which the index went up 2.11% last Tuesday (3/12) and up 1.82% last Wednesday.

The laggards in question were PT Bank Mandiri (Persero) Tbk (BMRI), PT Bank Rakyat Indonesia (Persero) Tbk (BBRI), PT Telkom Indonesia (Persero) Tbk (TLKM), and PT Bank Negara Indonesia (Persero) Tbk (BBNI).

BMRI’s price yesterday saw 3.53% decline, while BBRI slipped 2.07%, similar to TLKM with 2.64% contraction and BBNI with 2.63% slippage.

With these corrections, BMRI reportedly brought IHSG down by 19.68 points, BBRI 11.66 points, TLKM 7.86 points, and BBNI 4.54 points.

These state-owned enterprises (SOEs) actually lead the index’s positive shift last Wednesday. At that time, BBRI saw 2.59% increase, as did BMRI by 1.59% and BBNI by 3.56%.

Last Thursday, transaction volume was recorded at 14.90 billion shares, with total transaction valued at IDR 9.44 trillion. Transaction frequency reportedly reached 1.19 million across all markets. (KR/ZH)