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IDX Composite rebounds with 0.63% gain on Thursday
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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 rebounded, closing 0.63 percent higher at 7,080.74 on Thursday, Nov. 30, 2023, despite predictions. (Antara/Hafidz Mubarak A)
The Indonesia Stock Exchange (IDX) Composite (IHSG) rebounded on Thursday, closing up 44.65 points, 0.63 percent, at 7,080.74.
The IHSG opened 16.85 points higher at 7,052.94 after closing at 7,036.09 on Wednesday.
Earlier in the day, Ajaib Sekuritas financial expert Ratih Mustikoningsih had anticipated a weakening of the index.
"Today, the IHSG is predicted to have a mixed performance, tending to weaken in the range of 7,000 to 7,073," she said on Thursday morning, as cited by Antara news agency.
The day saw a total stock transaction volume of 31.6 billion shares, amounting to Rp 23.39 trillion (US$1.498 billion). Among the 758 listed stocks, 304 weakened, 238 gained and 216 remained unchanged.
Eight sectoral indices closed stronger.
The infrastructure sector soared by 5.61 percent, followed by the health sector with a 2.28 percent increase. The technology sector advanced by 1.73 percent, and the primary consumer goods sector climbed by 1.55 percent.
In addition, the non-primary consumer goods sector rose 0.78 percent, and the financial sector gained 0.43 percent. Meanwhile, energy and transportation and logistics increased by 0.23 percent and 0.17 percent, respectively.
Three sectors experienced declines. The industrial sector saw a 1.14 percent drop, the property and real estate sector dipped by 0.82 percent, and raw goods lost 0.43 percent.
The LQ45 index also closed higher, up by 0.62 percent to 930.035.
Top gainers within the index were PT Indofood CBP Sukses Makmur (ICBP) with a 10 percent increase, PT Indocement Tunggal Prakarsa (INTP) with an 8.51 percent rise and PT Elang Mahkota Teknologi (EMTK) with a 4.88 percent gain.
PT Essa Industries Indonesia (ESSA) led losses in the LQ45 with a 5.13 percent decline. Then, PT Medco Energi Internasional (MEDC) and PT Vale Indonesia (INCO) dropped by 4.15 percent and 4.05 percent, respectively.
The IHSG tends to exhibit subdued activity toward the end of the month, with market participants closely monitoring the release of economic data over the weekend.
Key indicators include Indonesia’s purchasing managers' index (PMI) in the manufacturing sector for the November 2023 period.
The manufacturing PMI is expected to sustain the expansion phase, previously recorded for 26 consecutive months. Meanwhile, inflation is projected to remain within the Bank Indonesia target of 2 to 4 percent.
