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IDX Composite falls 0.27% as TLKM, AMMN, BMRI drag on index
The IDX Composite index ended Thursday trading down 0.27 percent, with PT Telkom Indonesia leading the decline.
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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 index closed 0.27 percent lower at 6,831 on June 13, 2024. (AFP/Bay Ismoyo)
T
he Indonesia Stock Exchange (IDX) Composite continued its downtrend on Thursday, falling by 18.53 points or 0.27 percent to end the trading day at 6,831.
At the close, 251 stocks had risen, 285 had fallen and 235 had remained stagnant. There were 808,716 stock transactions with a total trading volume of 42.418 billion shares valued at a total of Rp 13.485 trillion (US$833.52 million).
Several stocks weighed down the IDX. The biggest drag was PT Telkom Indonesia (TLKM), which declined by 9.4 index points. Other laggards included PT Amman Mineral Internasional (AMMN), which fell by 5.9 points, PT Bank Rakyat Indonesia (BBRI), falling 4.7 points, PT Bank Mandiri (BMRI), down 4.6 points, and PT Chandra Asri Pacific (TPIA), down 4.0 points.
The IDX’s volatility remained high on Thursday despite improving global market sentiment following eased United States inflation and the Federal Reserve's indication of an interest rate cut this year. US inflation for May 2024 fell to 3.3 percent year-on-year (yoy), below the market forecast of 3.4 percent yoy. Core inflation also outperformed market expectations at 3.4 percent yoy.
Other Asian stock exchanges showed mixed results. Japan's Nikkei 225 index fell by 0.40 percent, Hong Kong’s Hang Seng rose by 0.97 percent, and South Korea’s Kospi increased by 0.98 percent.
European stock markets uniformly weakened. The British FTSE 100 fell by 0.05 percent, France’s CAC 40 dropped by 0.32 percent, and Germany’s DAX weakened by 0.43 percent.
The US stock markets strengthened. The S&P 500 index rose by 0.85 percent, the NYSE index increased by 0.48 percent, and the NASDAQ Composite index went up by 1.53 percent.
