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IDX Composite rises 0.24% despite declines in most Asian bourses
The IDX Composite closed at 7,134, up by 0.24 percent on Friday, contrasting with most Asian stock markets.
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A woman walks past a large screen displaying stock indices at the Indonesia Stock Exchange (IDX) in Jakarta on March 14, 2024. The IDX Composite closed at 7,134, up by 0.24 percent on May 3, 2024. (AFP/Bay Ismoyo)
T
he Indonesian Stock Exchange (IDX) Composite index closed at 7,134 on Friday, up by 17.29 points, 0.24 percent, compared with the previous closing.
This surge contrasted with most Asian stock markets, as Japan's Nikkei 225 dropped by 0.1 percent, Hong Kong's Hang Seng Composite increased by 1.36 percent, and South Korea's Kospi weakened by 0.26 percent.
At the end of Friday's trading session, 254 stocks rose, 288 fell and 231 remained unchanged.
Investors traded Rp 11.52 trillion (US$722.74 million), involving 20.92 billion shares, while the total transaction value amounted to Rp 11.6 trillion.
Five out of 11 sectors ended positive at Friday's closing.
The largest increase occurred in the healthcare sector, surging 1.7 percent. This was followed by a 1 percent increase in the technology sector, a 0.4 percent increase in the primary consumer goods sector, a 0.3 percent increase in the non-primary consumer goods sector and a 0.1 percent increase in the financial sector.
Raw materials saw the steepest decline by 0.5 percent, followed by the transportation, industry and energy, and property sectors dropping by 0.2 percent and 0.1 percent respectively.
As the Composite index rose on Friday, PT Tripar Multivision Plus (RAAM) shares soared, hitting the upper auto rejection (ARA) and making it to the top gainers list, jumping by 24.4 percent to Rp 555.
Following RAAM, four other stocks made it to the top gainers list. They were PT Ladangbaja Murni (LABA), surging by 33.3 percent to Rp 76, and PT Wahana Inti Makmur (NASI), rising by 12.9 percent to Rp 105. Additionally, PT Samcro Hyosung Adilestari (ACRO) jumped by 11.2 percent to Rp 89, and PT Sariguna Primatirta (CLEO) increased by 10.8 percent to Rp 1,120.
The LQ45 index, which monitors the top-45 stocks by market capitalization, also showed a positive trend, up by 0.51 percent to 903.33. On Friday, the LQ45 top gainers were PT GoTo Gojek Tokopedia (GOTO), which was up 4.76 percent, PT ESSA Industries Indonesia (ESSA) up 4.7 percent, and PT Perusahaan Gas Negara (PGAS) up 3.77 percent.
Meanwhile, the biggest losers were PT Ace Hardware Indonesia (ACES) which was down 3.3 percent, PT Bank Mandiri (BMRI) down 2.77 percent and PT Dayamitra Telekomunikasi (MTEL) down 2.63 percent.
In Europe, stock markets showed strength across the board. The United Kingdom's FTSE 100 rose by 0.32 percent, France's CAC 40 increased by 0.47 percent, and Germany's DAX surged by 0.37 percent.
In the United States, all major stock indices closed higher. The S&P 500 jumped by 0.91 percent, the New York Stock Exchange rose by 0.7 percent, and the NASDAQ Composite increased by 1.51 percent.
