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IDX Composite closes at 7,190.9 to set new 2023 record high
The bourse closed up 0.21 percent at 7,190.9 on Friday to mark a record high for the year, trumping its previous record booked just a day prior.
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A woman takes a picture of an electronic stock display on July 4, 2023 at the Indonesia Stock Exchange (IDX) in Jakarta. The IDX Composite closed 0.21 percent higher on Dec. 15 to mark a new 2023 record of 7,190.9 as the market anticipated the release of November’s trade data. (Antara/Hafidz Mubarak A)
T
he Indonesia Stock Exchange (IDX) Composite marked a new record high on Friday when it closed at 7,190.9, up 14.9 points, or 0.21 percent, surpassing its previous record of 7,176 on Thursday.
The bourse booked total transaction value of Rp 20.5 trillion (US$1.31 billion) with 240 stocks up, 278 entering correction and 241 stagnant.
Some sectors saw positive movement, led by energy stocks with a 1.5 percent jump. The infrastructure and raw goods sectors followed closely, each rising 0.7 percent. Meanwhile, healthcare stocks were up 0.2 percent and the non-primary consumer goods sector edged up 0.1 percent.
On the other hand, technology stocks fell 3.4 percent while the primary consumer goods sector dipped 0.6 percent, and the transportation and industrial sectors slipped 0.2 percent and 0.09 percent, respectively.
PT MPX Logistics International (MPXL) led the day’s top gainers with a 12.1 percent surge, followed by PT Petrosea (PTRO) with 8 percent and PT Petrindo Jaya Kreasi (CUAN) with 7.3 percent.
Two other stocks also posted significant gains: PT TBS Energi Utama (TOBA) shot up 6.6 percent and PT Chemstar Indonesia (CHEM), 6.3 percent.
On the downside, PT Mustika Ratu (MRAT) led the top losers as it plummeted 24.8 percent to hit the lower auto rejection (ARB) limit.
Other notable losers included PT Nusatama Berkah (NTBK), which plunged 20.2 percent, followed by PT Midi Utama Indonesia (MIDI), down 14.1 percent, and PT Pulau Subur (PTPS) falling 12.3 percent.
Lotus Andalan Sekuritas researchers forecast that the IDX Composite would strengthen on Friday.
"Today, [the index] has an opportunity to strengthen in response to global and domestic sentiment," the researchers said on Friday morning, as quoted by Antara News.
On the domestic front, Statistics Indonesia reported a trade surplus of $2.41 billion for November, extending the trend spanning 43 consecutive months since May 2020.
The surplus value marked a 30.56 percent decline from the $3.47 billion recorded in the previous month, however, and was also significantly lower at 52.67 percent less than the $5.01 billion in surplus value booked in November 2022.
Market expectations also looked overseas to the United States Federal Reserve cutting rates at least three times next year for a combined total of around 75 basis points.
