TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
IDX Composite starts 2024 with a 0.70% surge
The Indonesia Stock Exchange (IDX) Composite (IHSG) concluded the first trading session of 2024 on a positive note, gaining 50.79 points, or 0.70 percent, to finish at 7,323.58.
Change Size
An employee takes a photo of a screen showing stock movements on July 4, 2023, at the Indonesian Stock Exchange (IDX) in Jakarta. The IDX Composite (IHSG) concluded the first trading session of 2024 on a positive note, gaining 50.79 points, or 0.70 percent, to finish at 7,323.58 on Jan. 2, 2024. (Antara/Hafidz Mubarak A)
T
oday's trading on the Indonesia Stock Exchange (IDX) witnessed a total volume of 13.79 billion shares, amounting to Rp 6.72 trillion (US$436.8 million) in value. Data showed that 320 stocks increased in value, 240 stocks declined and 212 stocks remained stagnant.
Seven sectoral indexes contributed to the overall strength of the IDX Composite, while four others experienced declines. The most significant surge was seen in the transportation sector, marking a 3.34 percent increase. The energy sector followed with a 2 percent rise, while the raw goods sector increased by 1.89 percent.
Conversely, the health sector led the sectors in the red, experiencing a 1.64 percent drop, followed by the property sector, with a 0.50 percent decrease and the financial sector, which fell by 0.43 percent.
The LQ45 index closed higher for the session, rising by 0.91 percent to 979.433. PT Chandra Asri Petrochemical (TPIA) emerged as the top gainer with an 8.57 percent increase, while PT Surya Citra Media (SCMA) posted the biggest loss, declining by 10 percent.
As market participants brace themselves for financial challenges in this politically charged year, analysts from Lotus Andalan Sekuritas pointed to inflation data as one of the key factors influencing today's market sentiment.
"Inflation data, PMI [purchasing managers' index] and the presidential debate are expected to drive sentiment today," Lotus Andalan Sekuritas said on Tuesday morning, as quoted by the Antara news agency.
Statistics Indonesia (BPS) has reported a year-on-year (yoy) consumer price growth of 2.61 percent for December. In addition, the consumer price index (CPI) for last month showed a 0.41 percent month-to-month gain, the highest monthly increase in 2023.
BPS interim head Amalia Adininggar Widyasanti highlighted that the expenditure group contributing the most to inflation was food, beverages and tobacco, which contributed 0.29 percent. Key commodities influencing inflation were red chili peppers, shallots, tomatoes, cayenne peppers, rice and eggs.
In addition to food and beverages, several other consumption groups made notable monthly contributions to the CPI, such as air freight rates, gold jewelry and recreation.
