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IDX Composite extends winning streak to six days
The IDX Composite gained 25.02 points, or 0.32 percent, on Friday, marking its sixth consecutive day of growth. Most sectors strengthened, particularly property and consumer goods, driven by external sentiment.
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Workers clean the Indonesia Stock Exchange (IDX) logo on Oct. 18, 2024, at the IDX in South Jakarta. Ahead of the inauguration of president-elect Prabowo Subianto and vice president-elect Gibran Rakabuming Raka and the end of the Joko Widodo-Ma'ruf Amin administration, the Composite index closed up 25.02 points or 0.32 percent to 7,760.06. (Antara Foto/Aprillio Akbar)
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he Indonesia Stock Exchange (IDX) Composite index gained once more on Friday, rising by 25.02 points or 0.32 percent to 7,760, marking a six-day streak of gains.
Most sectors strengthened, led by the property sector which saw a 1.3 percent increase, followed by primary consumer goods (1.2 percent), infrastructure (0.5 percent), technology (0.4 percent) and industry (0.2 percent).
The health sector was the biggest-losing sector, declining by 1.8 percent, followed by energy, which fell by 0.6 percent. Transportation, basic materials and non-primary consumer goods lost between 0.1 and 0.3 percent.
Top company stocks today were PT Multipolar (MLPL), which surged 34.4 percent, PT Matahari Putra Prima (MPPA), which added 30.5 percent and PT Lenox Pasifik Investama (LPPS), which rose by 27.1 percent.
The total transaction value reached Rp 11.3 trillion (US$729.4 million), with a trading volume of 24.4 billion shares over 1,289,138 transactions. Data showed that 293 stocks gaining, 281 declining and 225 remained unchanged.
Pilarmas Investindo Sekuritas attributed the mixed sentiment to external factors, particularly the United States presidential election and conflicts in the Middle East, which prompted investors to seek safe-haven assets.
Pilarmas also highlighted that the Composite index and Asian indices strengthened as market participants focused on economic data releases from the United States, the European Central Bank and China.
Major Asian indices also saw positive movement, with Shanghai’s SSE Index up 2.9 percent, Hong Kong’s Hang Seng rising by 3.61 percent and Japan’s Nikkei 225 gaining 0.18 percent.
