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IDX Composite dips 0.19% after positive start
The IDX Composite closed down 0.19 percent after starting in the green on Wednesday, with analysts anticipating fluctuation over the release of key global economic data.
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A woman photographs an electronic display of stock movements on July 4, 2023 at the Indonesia Stock Exchange (IDX) in Jakarta. (Antara/Hafidz Mubarak A)
T
he Indonesia Stock Exchange (IDX) Composite closed trading on Wednesday on a negative note, dropping 13.46 points or 0.19 percent to 7,087.39 after opening in the green at 7,102.69.
Market analysts had anticipated fluctuation in the index as investors closely monitored global economic data.
"For today, investors anticipate the release of Australia's [third-quarter] economic growth data, eurozone’s retail sales, Germany’s factory orders and the United States’ ADP Employment Report," the Phillip Sekuritas Indonesia research team said on Wednesday morning, as quoted by Antara News.
Investors mainly focused on US labor market data, looking for indications of a potential soft landing for the US economy. Recent figures showed a decrease in job vacancies, signaling a cooling down of the economy.
The trading volume in the IDX totaled 44.11 billion shares and a transaction value of Rp 16.44 trillion (US$1.051 billion). Of the listed stocks, 355 declined, 221 gained and 191 remained unchanged.
Eight out of the 11 sectors on the IDX closed in the red. The technology sector led the declines with 2.99 percent, followed by the property and real estate sector down 1.36 percent and the financial sector dipping 0.73 percent. The industrial and transportation sectors dipped 0.66 percent and 0.49 percent, respectively.
On the positive side, the infrastructure sector was up 2.8 percent to lead the gains, followed by the raw goods sector up 2.7 percent, and then the health sector ticking up 0.39 percent.
The bourse’s LQ45 index closed 0.42 percent lower at 936,798. PT GoTo Gojek Tokopedia (GOTO) led the top losing stocks with an 8.91 percent decline, followed by PT Bank Jago (ARTO) down 4.72 percent and PT Elang Mahkota Teknologi (EMTK) down 3.97 percent.
PT Barito Pacific (BRPT) led the top gainers in the LQ45 with a 24.76 percent increase, followed by PT Chandra Astri Petrochemical (TPIA) up 9.78 percent and PT XL Axiata (EXCL) up 4.39 percent.
