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IDX Composite closes 0.24% down after new trade data
The IDX Composite declined 0.24 percent to close at 7,224 on Monday, when Statistics Indonesia published its December 2023 data on the trade balance and the central bank released its November 2023 data on external debt.
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A woman takes a picture of a stock ticker display on July 4, 2023 at the Indonesia Stock Exchange (IDX) in Jakarta. The IDX Composite closed in the red on Jan. 15, 2024, falling 0.24 percent to 7,224 against earlier predictions of a possible rise. (Antara/Hafidz Mubarak A)
T
he index had opened 9.04 points higher at 7,250.54 and analysts forecast it could move up, as the trading day coincided with the publication of the December 2023 trade balance.
The IDX Composite “has the potential for limited upward movement at the beginning of this week”, the research team of Lotus Andalan Security said on Monday in Jakarta, as quoted by Antara news agency.
The trading volume on Monday totaled 17.45 billion shares and a value of Rp 9.58 trillion (US$615.4 million), with 284 stocks declining, 256 gaining and 235 remaining unchanged.
Five of the bourse’s 11 sectors weakened, with the health sector registering the highest decline at 0.76 percent. The finance sector fell 0.53 percent while property and real estate sector dipped 0.31 percent.
Conversely, the transportation sector recorded the highest increase of 3.01 percent during the trading day. The industrial sector was up 1.06 percent, energy 1.05 percent and the primary consumer goods recorded a 0.39 percent uptick.
The LQ45 also closed up 0.38 percent to 974.059.
PT Mitra Adiperkasi (MAPI) led the gainers in the index with 4.67 percent, while the day’s biggest loser was PT Chandra Astri Petrochemical (TPIA), which plummeted 9.27 percent.
Statistics Indonesia (BPS) data showed that exports totaled $22.41 billion and imports reached $19.11 billion in December 2023, booking a trade surplus of $3.3 billion.
“As a result, the trade balance has logged a surplus for 44 consecutive months since May 2020,” said BPS statistics distribution and services deputy Pudji Ismartini, as quoted by news portal detik.com.
Bank Indonesia also released on Monday its November 2023 data on the country’s external debt, stating that it “remains manageable” at $400.9 billion, noting an accelerated year-on-year (yoy) growth of 2 percent from 0.7 percent yoy in October, when external debt stood at $392.2 billion.
Government debt “remains under control” at $192.6 billion in November, following accelerated growth of 6 percent yoy from 3 percent yoy the previous month. The central bank attributed this to “increasing portfolio investment placements in the domestic and international government securities (SBN) markets [...] in response to positive market sentiment stoked by early indications of easing global financial market uncertainty,” according to its press release.
