The IDX Composite closed slightly higher on Friday, as the market remained cautious over domestic policy development and global geopolitical tensions.
The Indonesia Stock Exchange (IDX) Composite index ended the day slightly higher on Friday, gaining 0.02 percent to close at 7,164.
Total trading volume reached 19.04 billion shares, with a transaction value of Rp7.64 trillion (US$497 million). Of the 796 stocks traded, 254 increased, 336 decreased and 206 remained unchanged.
The technology sector led the gainers, rising 2.05 percent, followed by the infrastructure sector, up 0.88 percent and the transportation sector, which gained 0.66 percent.
In contrast, the non-primary consumer goods sector saw the steepest decline, dropping by 0.76 percent, while the financial and industrial sectors also faced losses, falling 0.49 percent and 0.35 percent, respectively.
In the LQ45 index, the top gainers were PT Sarana Menara Nusantara (TOWR), up 12.50 percent, PT GoTo Gojek Tokopedia (GOTO), which rose by 9.86 percent and PT Bank Jago (ARTO), gaining 2.88 percent.
On the downside, PT Indocement Tunggal Prakarsa (INTP) led the losses, dropping by 3.74 percent. It was followed by PT Unilever Indonesia (UNVR), down 3.27 percent and PT Adaro Minerals Indonesia (ADMR), which fell by 3.00 percent.
A mix of domestic and global factors influenced investor sentiment. Domestically, market participants were closely monitoring the potential impact of changes in government policy, particularly economic and fiscal measures.
Meanwhile, on the global stage, concerns over the United States Federal Reserve’s interest rate decisions, potential protectionist policies by world leaders and escalating geopolitical tensions, particularly in the Middle East and Ukraine, continued to weigh on market sentiment.
The economic and political policies that the US will adopt are predicted to attract global investor funds to Wall Street, thus strengthening the US dollar index. This condition can put pressure on several emerging countries' currencies, including the rupiah.
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