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IDX Composite rebounds slightly on Tuesday, up 0.02%
The IDX Composite bounced back slightly, up 0.02 percent at 7,285.317 on Tuesday, with the LQ45 index increasing by 0.11 percent to 992.688.
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 bounced back slightly, up 0.02 percent at 7,285.317 on Tuesday, Feb. 27, 2024, with the LQ45 index increasing by 0.11 percent to 992.688. (Antara/Asprilla Dwi Adha)
T
he Indonesia Stock Index (IDX) Composite (IHSG) managed to close 0.02 percent or 1.49 points higher at 7,285.317 after four consecutive days of decline.
The market saw over 1.3 million exchanges, totaling a volume of 20.65 billion shares valued at Rp 11.60 trillion (US$741 million). Of the shares traded, 235 increased, while 308 decreased and 231 remained unchanged.
The LQ45 index also experienced a marginal increase, closing up by 1.09 points, or 0.11 percent, to 992.688. Leading the gainers were PT Vale Indonesia (INCO), which surged by 3.92 percent after announcing its recent divestment, followed by PT United Tractors (UNTR) with a 3.7 percent increase.
Meanwhile, PT Telkom Indonesia (TLKM) and PT Aneka Tambang (ANTM) were the top losers, declining by 2.44 and 2.31 percent, respectively.
Yugen Bertumbuh Sekuritas had previously noted the potential for the IDX Composite to strengthen beyond the 7,300 level.
William Surya Wijaya, CEO of the financial firm, emphasized that the IDX Composite's consolidation was within a reasonable range amid limited impacting sentiments.
"However, the IDX Composite still has the opportunity to go up considering the IDX Composite movement is still on a long-term uptrend path," he William on Monday, as quoted by bisnis.com.
William also highlighted the significant margin for correction due to fluctuations in commodity prices and the rupiah exchange rate. He remained optimistic about the long-term trajectory of the IDX Composite.
In broader Asian markets, the Nikkei 225 Index in Japan saw a marginal increase of 5.8 points or 0.01 percent to 39,239.5, while the Hang Seng index in Hong Kong jumped by 156.06 points or 0.94 percent to 16,790.8. The SSE Composite index in China also surged by 38.46 points or 1.29 percent to 3,015.48.
However, the Straits Times index in Singapore witnessed a decline of 13.80 points or 0.44 percent to 3,157.32.
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