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 declines for third straight day to close at 7,295.09
The IDX Composite declined 0.61 percent to 7,295.09 on Feb. 23, with seven sectoral indexes contributing to the day’s downturn, even as most regional and global markets booked gains.
Change Size
Attendees look at stock movements on Jan. 2 during the opening ceremony of the Indonesia Stock Exchange (IDX) for 2024 at the bourse in Jakarta. The IDX Composite declined 0.61 percent to 7,295.09 on Feb. 23, with seven sectoral indexes contributing to the day’s downturn. (Antara/Asprilla Dwi Adha)
T
he Indonesia Stock Exchange (IDX) Composite continued its downward trend for the third consecutive day, declining 0.61 percent or 44.54 points to close at 7,295.09 on Friday.
Total transaction volume reached 16.29 billion shares for a value of Rp 9.68 trillion (US$619.52 million). Of the listed stocks, 293 declined, 235 gained and 236 traded flat.
Seven sectoral indexes contributed to the day’s downturn, led by the financial sector with a 0.94 percent decline. It was followed by transportation and logistics and primary consumer goods, both down 0.54 percent.
Conversely, four sectoral indexes gained during trading on Friday, led by the infrastructure sector with a 0.53 percent surge. The technology sector followed with a 0.38 percent rise, while health and non-primary consumer goods increased 0.16 percent and 0.12 percent, respectively.
The LQ45 index also experienced a decline to close 0.83 percent down at 994.156. Top losers in the index included PT Astra International (ASII), which fell 2.84 percent and PT Saratoga Investama Sedaya (SRTG), which declined 2.74 percent.
On the other hand, PT Mitra Pack (PTMP) increased 6.38 percent to lead gainers on the LQ45, followed by PT Bukalapak.com (BUKA) with a 4.55 percent rise.
The IDX Composite declined for the third straight day as most regional and global stock markets posted gains. An earlier prediction by Ajaib Sekuritas pointed to a mixed but overall strengthening movement on the index.
"The IDX Composite today is predicted to [show] mixed movement and strengthen within a range of 7,320 to 7,370," Ajaib Sekuritas financial expert Ratih Mustikoningsih said on Friday morning, as quoted by Antara news agency.
On Friday, Bank Indonesia reported 11.83 percent year-on-year (yoy) growth in January in bank credit, encompassing working capital loans, investment loans and consumer credit.
It also booked growth in sharia financing and micro, small and medium enterprise (MSME) loans at 15.67 percent and 8.97 percent, respectively.
The central bank is targeting overall lending growth of 10-12 percent yoy this year.
