VIVAnews - The escalating political situation following the broken coalition between Golkar and the Democratic Party caused the Indonesia Stock Exchange (IDX) to engage in profit taking on Thursday trading, April 23.
During the first one minute of the share trading, the IDX composite index was down by 9.2 points (0.57 percent) to 1,606.01.
The traded shares reaching 202.6 million units valuing Rp 113.9 billion (US$10.4 million).
Market analyst Willy Sanjaya believed that market players still expect Golkar and the Democratic Party to maintain their coalition.
"The choice of forming the coalition is correct. However, the market has already perceived that Yudhoyono and Jusuf Kalla have split up," Sanjaya told VIVAnews today, April 23.
Meanwhile, an analyst at PT Panin Sekuritas, Purwoko Sartono, said the profit taking potential began as the index failed to maintain the increase during yesterday first-session's trading.
"Investors made use of the situation to take profit from the sharply increased shares," he said.
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Translated by: Bonardo Maulana Wahono
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