TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
IDX Composite ends election week upbeat
The IDX Composite concluded this week at 7.335,54 on Feb. 16, 2024, adding 0.44 percent, due to the market optimism after Wednesday’s election.
Change Size
Attendees look at stock trading movements during the trade opening ceremony at the Indonesia Stock Exchange (IDX) in Jakarta on Jan. 2, 2024. The IDX Composite concluded this week at 7.335,54 on Feb. 16, 2024, adding 0.44 percent, due to the market optimism after Wednesday’s election. (Antara/Asprilla Dwi Adha)
T
he Indonesia Stock Exchange (IDX) Composite ended Friday trading at 7,335.54, gaining 0.44 percent or 32.26 points, two days after the 2024 presidential election, which Defense Minister Prabowo Subianto won based on quick counts.
Around 17.47 billion shares were traded with a transaction value of Rp 15.1 trillion (US$959 million), 221 stocks gained, 316 weakened and 226 were unchanged.
Among the top gainers, Tommy Soeharto's PT Humpuss Maritim Internasional (HUMI) was the leader, jumping by 21.13 percent to close at Rp 86 per share. Following HUMI was PT Chandra Asri Pacific (TPIA), which rose by 14.07 percent to Rp 4,620 per share.
PT Bersama Mencapai Puncak (BAIK) was the biggest loser, declining by 24.76 percent to trade at Rp 158 per share. PT Panca Mitra Multiperdana (PMMP) saw a 12.12 percent drop to Rp 348 per share.
Friday's market closing aligned with predictions by Yugen Bertumbuh Sekuritas CEO William Suryawijaya, who stated that the uneventful conclusion to the election brought a positive outlook for the IDX Composite.
The positive outlook is reinforced by recent stable economic development, which may prove critical to the IDX Composite's optimistic prospects in the medium to long term.
"The start of a reversal in the rupiah exchange rate and the continued record of capital inflows in the current year also provide positive sentiment for the IDX Composite movement,” William said, as quoted by bisnis.com business news portal.
“Today [Friday], the IDX Composite has the potential to become stronger."
