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IDX Composite slips to 7,696, 7 sectors decline

The IDX Composite (IHSG) closed the week at 7,696, down 0.61 percent, with the infrastructure sector leading the losses.

News Desk (The Jakarta Post)
Jakarta
Fri, September 27, 2024

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IDX Composite slips to 7,696, 7 sectors decline Tidy trading: A custodian cleans the floor of the Indonesia Stock Exchange (IDX) building on April 16, 2024, in South Jakarta. The IDX Composite index closed down 0.61 percent at 7,696 on Sept . 28, 2024. (Antara/Erlangga Bregas Prakoso)

T

he Indonesia Stock Exchange (IDX) Composite index slipped below the 7,700-mark at the end of this week. It closed at 7,696.92 on Friday, down 0.61 percent or 47.6 points from the previous close on Thursday.

Seven out of 11 sectoral indices weakened, led by the infrastructure sector, which fell by 0.71 percent. Industrials followed suit by posting a 0.42 percent decline. The other sectors that saw declines for the day were finance, basic materials, primary consumer goods, transportation and logistics and technology.

Meanwhile, the energy sector jumped by 1.10 percent by the end of the trading session. Health was the second-best performing sector for the day, adding 0.60 percent.

The top gainers in the LQ45 index were PT Merdeka Copper Gold (MDKA), which increased 4.25 percent, PT Adaro Energy Indonesia (ADRO), which rose 3.44 percent, and PT Aneka Tambang (ANTM), which gained 3.16 percent.

Meanwhile, the top losers were PT Amman Mineral Internasional (AMMN), which fell by 5.69 percent, PT Telkom Indonesia (TLKM), which was down 3.79 percent and PT Astra International (ASII), which lost 2.86 percent.

The total transaction volume on the IDX reached 20.54 billion shares, with a transaction value of Rp 15.01 trillion (US$993 million). A total of 312 stocks declined, 246 advanced and 243 remained unchanged.

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The IDX Composite has fallen 0.60 percent over the past week but has risen 5.83 percent since the beginning of the year.

Meanwhile, Asian stocks showed mixed movements. Japan's Nikkei 225 rose by 2.32 percent, Hong Kong's Hang Seng Composite gained 3.55 percent and South Korea's Kospi index fell by 0.82 percent.

The mixed performance in the Asian market followed the United States stock market’s recent gain. On Thursday, all three major indices on Wall Street ended in green.

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