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The Jakarta Composite Index (JCI) on the Indonesia Stock Exchange (IDX) closed down 0.35% or 22.28 points to 6,362.62 on Wednesday (July 3rd). The JCI's decline was in line with Asian markets.
The Nikkei index fell 0.53%, the Shanghai Composite Index dropped 0.94%, the Hang Seng Index weakened by 0.07%, and the Straits Times Index declined by 0.09%. The new threat of a trade war between the United States (US) and the European Union served as a negative sentiment, causing Asian stock indices to correct.
Furthermore, a weakening global economy also eroded investor confidence. South Korea became the next country to cut its economic growth and export targets a day after the release of sluggish global manufacturing activity data. Recently, the World Bank also lowered its projection for Indonesia's economic growth from 5.2% to 5.1% in 2019.
(Read Databoks: [US-China Tensions Ease, JCI Opens Higher](https://databoks.katadata.co.id/datapublish/2019/07/01/ketegangan-as-tiongkok-mereda-ihsg-dibuka-menguat))
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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