TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
IDX Composite rises 0.54% to 7,520 amid global sentiment boost
IDX Composite index closed strong with a 0.54% rise on Friday amid improved global sentiment.
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
Ups and downs: An employee walks past a giant monitor showing the fluctuations of the Composite index at the Indonesia Stock Exchange (IDX) in Jakarta on Aug. 5, 2024. The IDX Composite closed strong with a 0.54% rise on Friday to end the week at 7,520.60. (Antara/Dhemas Reviyanto)
The Indonesia Stock Exchange (IDX) Composite index ended the week 40.52 points higher, up 0.54 percent, at 7,520.60 on Friday.
All sectoral indices ended in positive territory, with the property sector leading the gains, rising 3.04 percent. The healthcare sector followed with a 1.71 percent increase and basic materials rose by 1.57 percent.
Today's trading volume reached 16.72 billion shares, with a total transaction value of Rp 7.39 trillion (US$474.28 million). A total of 323 stocks advanced, 288 declined and 244 remained unchanged.
Top LQ45 gainers were PT Semen Indonesia (SMGR), which soared by 6.42 percent, followed by PT Bukalapak.com (BUKA) with a 5.43 percent increase and PT Dayamitra Telekomunikasi (MTEL) with a 4.88 percent rise.
On the losing side, PT Aspirasi Hidup Indonesia (ACES) dropped by 1.66 percent, PT Bank Central Asia (BBCA) fell by 1.19 percent and PT Bank Syariah Indonesia (BRIS) declined by 0.99 percent.
The Composite index's rebound comes as global sentiment improved following the release of United States inflation data.
The US dollar weakened to Rp 15,575 against the greenback after consumer inflation in the US slowed to 2.4 percent year-on-year in September, slightly above market expectations of 2.3 percent.
This marks six consecutive months of easing inflation, boosting investor expectations that the US Federal Reserve may have room to cut interest rates.
Adding to the sentiment, higher-than-expected US unemployment claims further reinforced the possibility of a more accommodating monetary policy. With claims reaching 258,000, the highest in 14 months, market expectations for a 25-basis-point rate cut in November have risen to 86.9 percent.
