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IHSG closes 0.66% higher as risk sentiment improves
The IHSG closed 0.66 percent higher following a sharp plunge recorded on Thursday caused by improved risk sentiment in the market.
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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) closed at 6,758.79, adding 44.27 points or 0.66 percent at the end of the trading session on Friday. (Antara/Hafidz Mubarak A)
T
he Indonesia Stock Exchange (IDX) Composite (IHSG) closed at 6,758.79, adding 44.27 points or 0.66 percent at the end of the trading session on Friday.
This increase followed Thursday’s sharp plunge, when the index closed nearly two percent lower.
According to analysts, the newly published gross domestic product (GDP) report from the United States improves the market’s risk sentiment. In Q3, the US saw its GDP grow at an annual rate of 4.9 percent, showcasing its economic resilience.
This was the fastest growth rate the US had seen since the last quarter of 2022.
Of the 11 sectors within the IHSG, eight sectors closed higher. Infrastructure, energy and health were the leading sectors of the index. Meanwhile, the three sectors which weakened were property, industry and technology.
The three top gainers within the LQ45 futures index were PT Charoen Pokphand Indonesia (CPIN), PT Indah Kiat Pulp and Paper (INKP) and PT Medco Energi Internasional (MEDC), which rose by 7.92 percent, 5.26 percent and 4.41 percent, respectively.
PT Vale Indonesia (INCO) became the biggest loser within LQ45, closing 5.09 percent lower. PT Saratoga Investama Sedaya (SRTG) and PT. ESSA Industries Indonesia (ESSA) followed suit, posting 3.38 percent and 3.08 percent losses, respectively.
The total volume of stocks traded today reached 17.98 billion, amounting to Rp 8.41 trillion (US$528 million).
Other benchmark indexes in Asia are in the green zone.
The Nikkei 225 in Japan ended 1.27 percent higher, the Hang Seng in Hong Kong ended the session 2.08 percent higher and South Korea’s Kospi traded 0.21 percent higher.
Meanwhile, London’s FTSE 100 fluctuated throughout the session after opening lower at 7,354.57. The CAC 40 in France also continued its downward trend. On the other hand, the benchmark DAX 30 in Germany generally traded in the green.
