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IDX Composite climbs 0.15% with robust sectoral performance
The IDX Composite began the week positively on Monday, ending at 7,099.26, up 10.47 points or 0.15 percent from the previous trading session.
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A woman walks past a screen displaying stock prices on the Indonesia Stock Exchange (IDX) in Jakarta on March 14, 2024. (AFP/Bay Ismoyo)
T
he Indonesia Stock Exchange (IDX) Composite started the week strong, closing at 7,099.26 on Monday, up by 10.47 points, or 0.15 percent, from the previous trading session.
This increase was supported by six sectoral indices that rose on Monday. Specifically, the technology sector surged by 1.80 percent, while the energy sector strengthened by 0.37 percent.
The non-primary consumer goods sector also rose by 0.36 percent, the transportation and logistics sector climbed by 0.29 percent, the financial sector increased by 0.17 percent, and the raw materials sector edged up by 0.07 percent.
Meanwhile, five sectors declined as the Composite strengthened.
The health sector dropped 0.58 percent, the primary consumer goods sector fell 0.45 percent. The infrastructure sector also declined 0.30 percent, while the industrial sector corrected 0.22 percent. The property and real estate sector weakened slightly by 0.03 percent.
The total exchange transaction volume reached 21.53 billion shares with a transaction value of Rp 14.47 trillion (US$898.34 million).
In total, data showed that 302 stocks weakened, 251 strengthened and 233 remained flat.
The LQ45 index, which tracks the top 45 stocks by market capitalization, also experienced a positive trend, rising by 0.51 percent to reach 903.33.
The top gainers on the LQ45 index on Monday were PT XL Axiata (EXCL) with a gain of 5.24 percent, PT Saratoga Investama Sedaya (SRTG) with a gain of 4.45 percent and PT Unilever Indonesia (UNVR) with a gain of 3.52 percent.
Meanwhile, the top losers on the LQ45 index were PT Bank Syariah Indonesia (BRIS) with a decrease of 9.45 percent, PT Indofood CBP Sukses Makmur (ICBP), which went down 4.41 percent, and PT Pertamina Geothermal Energy (PGEO), which fell 4.18 percent.
While the Composite showed growth on Monday, Asian stock indices had mixed performances. The Hang Seng Index rose by 0.8 percent in Hong Kong, while the Straits Times Index fell by 0.2 percent in Singapore. Also down were the Shanghai Stock Exchange Composite Index, which declined by 0.2 percent, and the Nikkei 225, which fell 0.1 percent.
In a separate development, Bank Indonesia (BI) reported that foreign exchange reserves in April were $136.2 billion, down from the previous month's position of $140.4 billion.
Although the reserves shrank, they were still above international sufficiency standards, which traditionally is the equivalent of three months’ worth of imports.
