The Jakarta Composite Index (IHSG) closed at 5,858.73 on Thursday (May 3rd), down 153.51 points (2.55%) from the previous day's close. As a result, the IHSG recorded a cumulative decline of 7.82% from January 2nd to May 3rd, 2018. This is the second-deepest decline in Asia after the Philippine Stock Exchange Index (PSEi).
On Thursday (May 3rd), selling pressure was seen across all sectors, with the infrastructure and mining sectors experiencing the largest declines at 3.2% and 3.04%, respectively. Foreign investors recorded net sales of Rp 771 billion, bringing the cumulative net sales for 2018 to Rp 35.16 trillion.
Leading stocks experiencing declines included PT Bank Mandiri Tbk (BMRI), down 4.9%, followed by PT HM Sampoerna Tbk (HMSP), down 4.6%, PT Bank Central Asia (BBCA), down 2.6%, and PT Telekomunikasi Indonesia Tbk (TLKM), down 3.4% from the previous day's close. Concerns over the US-China trade war, the US Federal Reserve's interest rate hike, and the depreciation of the Rupiah are cited as the main factors contributing to the IHSG's fall.