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View all search resultsIDX Composite extends decline, falling 0.28%
The IDX Composite index fell by 0.28 percent to 7,480.08 on Thursday, with only three sectors rising.
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Ups and downs: An employee walks past a giant monitor showing the fluctuations of the Indonesia Stock Exchange (IDX) Composite at the IDX building in Jakarta on Aug. 5, 2024. (Antara/Dhemas Reviyanto)
The Indonesia Stock Exchange (IDX) Composite index closed at 7,480.08 on Thursday, down 21.20 points, or 0.28 percent.
Only three sectoral indices managed to end in the green, while eight others fell into negative territory. The biggest gain was seen in the non-primary consumer goods sector, which rose by 1.85 percent, followed by transportation, at 1.43 percent, and primary consumer goods, up 0.22 percent.
Meanwhile, the steepest declines were seen in the basic materials sector, which slid 0.78 percent, the technology sector, which fell by 0.73 percent and the property sector, which lost 0.37 percent.
Thursday's total trading volume reached 18.30 billion shares, with a total transaction value of Rp 8.77 trillion (US$558.39 million). A total of 257 stocks rose, 279 stocks fell and 251 remained unchanged.
Top LQ45 gainers were PT Aspirasi Hidup Indonesia (ACES), with a 3.43 percent rise, PT Indosat (ISAT), up 2.51 percent, and PT Indofood Sukses Makmur (INDF), with a 1.44 percent increase.
The top losers were PT Bukalapak.com (BUKA), dropping by 7.19 percent, PT United Tractors (UNTR), down 2.63 percent, and PT Merdeka Battery Materials (MBMA), which declined by 1.85 percent.
In a recent development, Financial Services Authority (OJK) chief executive for the stock exchange, derivative market and carbon exchange Inarno Djajadi revealed that his agency and the IDX were working on developing derivative contracts based on foreign indexes.
He also said discussions were underway regarding offering securities listed on foreign exchanges and standardizing related business processes.
Inarno noted that expanding the OJK's authority to regulate and supervise financial derivative contracts with foreign shares and indexes as subjects was part of the Financial Sector Development and Strengthening Law (P2SK Law).
Currently, foreign stock trading in Indonesia operates under the regulatory framework of the Commodity Futures Trading Regulatory Agency (Bappebti) through the Foreign Mandate Distribution (PALN).
