Jakarta, June 4 -- Indonesia's finance minister said no special measures are being prepared to support stocks despite a sharp selloff, arguing that strong economic fundamentals remain the key driver of equity valuations.

Finance Minister Purbaya Yudhi Sadewa said the government has no plans to intervene in the Jakarta Composite Index, known as the IHSG, as markets come under pressure.

"As far as I am concerned, there will be no intervention," Sadewa said at the Parliamentary Complex on Thursday.

Strong and improving economic fundamentals should underpin stock valuations, he said.

The benchmark IHSG extended losses in Thursday trading, dropping more than 4 percent as investor sentiment weakened.

Sadewa previously expressed confidence ...