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IDX Composite kicks off 2025 on positive note, rises 1.18%

News Desk (The Jakarta Post)
Jakarta
Thu, January 2, 2025

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IDX Composite kicks off 2025 on positive note, rises 1.18% Workers clean the logo of the Indonesia Stock Exchange (IDX) below a screen displaying the IDX Composite index at the bourse in Jakarta in October 2024. The IDX Composite index closed with a 1.18 percent increase to close at 7,163.20 on Jan. 2, 2025. (Antara Foto/Aprillio Akbar)

T

he Indonesia Stock Exchange (IDX) Composite index closed higher on Thursday, gaining 1.18 percent to end the trading day at 7,163.20.

The total trading volume for the day was 19.60 billion shares, with a total transaction value of Rp 8.93 trillion (US$580 million). Of 794 stocks traded, 316 increased, 270 declined and 210 remained unchanged.

Among the 11 sectoral indices, five posted gains. The raw materials sector led the charge, rising by 1.78 percent, followed by financials and energy, both up by 1.50 percent.

Meanwhile, the primary consumer goods sector saw the steepest drop, down 1.72 percent. Health care and industrials also saw losses, down 1.43 percent and 1.34 percent, respectively.

The LQ45 index mirrored the broader market trend, increasing by 1.18 percent to close at 1,032.01.

The top gainers on the LQ45 index were PT Bank Negara Indonesia (BBNI), which surged by 5.52 percent; PT Bank Tabungan Negara (BBTN), up 4.39 percent; and PT Alamtri Resources Indonesia (ADRO), which gained 4.12 percent.

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On the other hand, the largest losers in the LQ45 index were PT Aspirasi Hidup Indonesia (ACES), which dropped by 4.43 percent; PT Indosat (ISAT), down 4.03 percent; and PT United Tractors (UNTR), which fell by 4.01 percent.

Financial Services Authority (OJK) deputy commissioner for capital market investment management and securities supervision I. B. Aditya Jayaantara pointed out the financial challenges that Indonesia will face this year. He said inflation trends, central bank interest rate trends, unabated geopolitical tensions and protectionist economic policies from the United States were the prominent concerns.

"In 2025, a number of these challenges do need to be anticipated," said Aditya at the 2024 IDX Trading Closing Inauguration Press Conference on Monday, as quoted by idxchannel.com.

Meanwhile, Muhammad Wafi, a research analyst at RHB Sekuritas Indonesia, noted that the IDX Composite's price-to-earnings ratio was currently 12 times, placing it on par with Singapore's market and making it one of the most attractively valued indices in Southeast Asia.

Wafi also highlighted that the strong earnings growth of large-cap issuers on the stock exchange would likely serve as a key catalyst for the movement of the IDX Composite throughout 2025.

"We estimate that in 2025, the average growth in earnings per share from issuers on the IDX Composite could grow to almost 8 percent year-on-year," said Wafi on Wednesday.

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