JAKARTA, April 6 (Xinhua) -- Indonesia recorded foreign fund outflows of 23.34 trillion rupiah (around 1.37 billion U.S. dollars) from its capital market in March, reversing a net buy position of 360 billion rupiah (around 21.3 million dollars) as global uncertainty rose due to conflict in the Middle East, the Financial Services Authority (OJK) said Monday.
A surge in foreign selling was driven by negotiated market transactions in several stocks on the exchange, said Hasan Fawzi, OJK's chief executive for capital markets, derivatives, and carbon exchange supervision, during a press conference.
In line with this pressure, the benchmark Jakarta Composite Index fell 14.42 percent month-on-month to 7,048.22 at the end of March, though authorities said that market liquidity remained well-maintained.
Despite the volatility, the number of domestic investors increased by 1.78 million in March, bringing the total to 24.74 million, an increase of more than 21 percent since the start of the year. ■