Erta Darwati, Jakarta – The Indonesia Stock Exchange (IDX) lost Rp 31 trillion ($1.8 billion) in market capitalization over the past week, as escalating tensions in the Middle East drove oil prices higher and triggered capital outflows from equities.

Following the decline, the IDX's total market capitalization stood at Rp 12,547 trillion ($740.9 billion).

The benchmark index slipped 0.14% to close at 7,097 this week, down from 7,106.8 in the previous week.

IDX Corporate Secretary Kautsar Primadi Nurahmad said that during the March 23-27 period, the average daily transaction value rose 15.27% to Rp 23.33 trillion, compared with Rp 20.24 trillion a week earlier.

"The average daily transaction frequency also increased by 9.01% to 1.73 million trades, from 1.59 million trades in the previous week," Kautsar said.

However, average daily trading volume declined 4.81% to 28.31 billion shares, down from 29.74 billion shares.

Year-to-date, foreign investors have recorded net sales of Rp 30.88 trillion, underscoring sustained capital outflows from the Indonesian equity market.

Source: https://jakartaglobe.id/business/idx-loses-18-billion-in-market-value-amid-middle-east-tension