TEMPO.CO, Jakarta - The Jakarta Composite Index (JCI) at the Indonesian Stock Exchange (IDX) closed down by 49.90 points at the end of trading on Monday, in line with the bourses across the region.
The Index slid by 49.90 points or 1.01 percent to close at 4,913.05 points, while the Top 45 Index (LQ45) went down by 10.37 point or 1.24 percent to 828.30 points.
"The IDX is on a downtrend, fueled by the general weakening of share markets in the region, which is caused by the grim outlook on the global economic growth," said Reza Priyambada, the head of research at Woori Korindo Securities Indonesia, in Jakarta on Monday.
The International Monetary Fund's (IMF) decision to reduce the global economic projection for 2015 came amid growing worries that European economies were not recovering as they should, which was further exacerbated by worries among investors about the Fed's decision to terminate its quantitative easing policy.
"Rumors about a global economic slowdown are pushing market players away from riskier assets," said Reza.
An analyst for Asjaya Indosurya Securities, William Surya Wijaya, said that the IDX may rebound on Tuesday after the intense pressure it was put under during Monday's trading session.
"The JCI may experience a technical rebound to a maximum level of 5,002 points, probably in the very near future," said William.
There were 196,293 transactions recorded at the IDX today, where 2.62 billion shares with a capitalization of Rp3.32 trillion were traded. The shares of 86 companies rallied, while 198 slid lower. The shares of 87 companies remained stagnant on Monday.
Meanwhile across Asia, Hong Kong's Hang Seng Index went up by 54.84 points to 0.24 percent to close at 23,143.38 points, while the Nikkei went down by 178.38 points or 1.15 percent to 15,300.55 points. Singapore's Straits Times Index slid by 21.72 points or 0.67 percent to 3,202.15 points.