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IDX Composite ends Tuesday trading up 0.39%
The IDX Composite rose 0.39 percent to close at 7,041.07 on Tuesday, driven by gains in five sectoral indices.
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An employee takes a picture of stock movements at the Indonesia Stock Exchange (IDX) in Jakarta on July 4, 2023. The IDX Composite rose 0.39 percent to close at 7,041.07 on Tuesday, driven by gains in five sectoral indices. (Antara/Hafidz Mubarak A)
The Indonesia Stock Exchange (IDX) Composite index closed 0.39 percent higher on Tuesday, rising 27.67 points to reach 7,041.07.
The total volume of trades was 19.95 billion shares, with a transaction value of Rp 11.06 trillion (US$719 million). Of the listed stocks, 249 gained, 276 weakened and 237 remained unchanged.
Five sectoral indices had advanced by the closing bell. The infrastructure sector surged by 2.83 percent, the raw goods sector climbed 1.57 percent and the energy sector rose by 1.09 percent. In addition, the primary consumer goods and health sectors experienced 0.29 percent and 0.08 percent gains, respectively.
Meanwhile, six sectors saw declines. The technology sector was the biggest loser, with a 1.26 percent drop. Non-primary consumer goods and property and real estate followed with 0.94 percent and 0.65 percent declines, respectively. The transportation sector dropped by 0.46 percent. The financial and industrial sectors closed 0.19 percent and 0.12 percent lower, respectively.
The LQ45 index also recorded a 0.14 percent increase, reaching 925.394.
PT Barito Pacific (BRPT) was the index's top gainer, jumping 6.88 percent. PT Merdeka Copper Gold (MDKA) followed with a 6.22 percent increase, while PT Medco Energi Internasional (MEDC) rose by 2.69 percent.
PT GoTo Gojek Tokopedia (GOTO) was the day’s biggest loser on the LQ45, plummeting 4.21 percent. PT Ace Hardware Indonesia (ACES) and PT Vale Indonesia (INCO) decreased by 3.12 percent and 3.10 percent, respectively.
Over the past week, the IDX Composite showcased a robust 1.14 percent increase despite a broader weakening observed in Asian stock markets.
Phillip Sekuritas Indonesia's research team attributed this to the market’s expectation that the United States Federal Reserve could bring inflation down to 2 percent without triggering a recession in the world’s largest economy.
"The release of the [US] personal consumption expenditure [PCE] price index on Thursday will provide investors with information on the chances of this happening," they said on Tuesday, as quoted by Antara news agency.
