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IHSG rebounds past 7,000 mark as Bank Indonesia holds rate steady
The IHSG surged 1.41 percent, closing at 7,004.34 on Thursday, as the central bank maintained the BI seven-day reverse repo rate at 6 percent.
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An employee takes a picture of stock movements
at the Indonesian Stock Exchange (IDX) in Jakarta on July 4, 2023. The IDX Composite (IHSG) surged 1.41 percent, closing at 7,004.34 on Thursday, as the central bank maintained the BI seven-day reverse repo rate at 6 percent. (Antara/Hafidz Mubarak A)
T
he Indonesia Stock Exchange (IDX) Composite (IHSG) rebounded on Thursday, rising by 97.39 points, or 1.41 percent, to close at 7,004.34.
Of the 756 listed shares, 315 gained, 226 weakened and 215 remained unchanged.
The index opened 0.32 percent higher at 6,929.17 in the morning, as the market anticipated Bank Indonesia's announcement on the benchmark interest rate.
During the two-day Bank Indonesia Board of Governors meeting (RDG) that ended on Thursday, BI decided to maintain its seven-day reverse repo rate (BI7DRR) at 6 percent.
Ten sectoral indexes contributed to the IHSG's rise, with the technology sector leading at an 8.60 percent increase, followed by the infrastructure sector with a 6.22 percent rise and the financial sector with a 1.84 percent gain.
Meanwhile, the health sector was the sole index to close in the red, experiencing a 1.11 percent decline.
The total trading volume on the stock exchange reached 24.75 billion shares, amounting to Rp 9.53 trillion (US$610.72 million) in value.
The LQ45 Index also concluded on a positive note, rising by 1.2 percent to 923.503. Top gainers in the index were led by PT Bank Jago (ARTO), which rose by 24.89 percent, PT GoTo Gojek Tokopedia (GOTO), which increased by 11.90 percent and PT Merdeka Copper Gold (MDKA), which closed 7.14 percent higher.
On the other hand, PT ESSA Industries Indonesia (ESSA) was the top loser in the LQ45 index with a 2.56 percent decline. PT Adaro Energy Indonesia (ADRO) and PT Harum Energy followed suit by losing 1.54 percent and 1.39 percent, respectively.
