The IDX Composite closed slightly higher on Tuesday, up by 0.04 percent. It iswassupported by positive foreign investor sentiment despite mixed sector performances.
The Indonesia Stock Exchange (IDX) Composite ended slightly higher on Tuesday, up by 0.04 percent to close at 7,083.28.
Trading activity saw 16.8 billion shares change hands, with a transaction value of Rp 9.3 trillion (US$575.8 million). Of the 802 stocks traded, 343 experienced declines, 242 increased and 217 remained unchanged.
During the session, six out of the 11 sectoral indices saw gains. The health sector led with a 0.87 percent increase, followed by a substantial rise in the technology sector, which gained 0.86 percent. The industrial sector also saw positive movement, climbing by 0.33 percent. Meanwhile, the property, primary consumer goods and raw materials sectors saw more modest increases.
On the downside, the financial sector experienced the most significant drop, falling by 0.50 percent. This was followed by the non-primary consumer goods sector, which declined by 0.43 percent, and the transportation and logistics sector, which dropped by 0.47 percent. The energy sector weakened by 0.34 percent and the infrastructure sector saw a slight decrease of 0.11 percent.
Foreign investor sentiment remained positive, with net purchases reaching Rp 16.53 trillion throughout 2024. However, December saw a net outflow of Rp 5.03 trillion. Capital market fundraising also showed strong growth, totaling Rp 259.24 trillion, including Rp 17.28 trillion raised through initial public offerings (IPOs) and debt securities.
Despite Indonesia's capital market's overall growth, Financial Services Authority (OJK) chairman Mahendra Siregar noted that the stock market’s contribution to gross domestic product remains relatively low compared to regional peers.
"The stock market's contribution to GDP, although growing, is still below regional countries such as India at 140 percent, Thailand at 101 percent or Malaysia at 97 percent," Mahendra said in Jakarta on Thursday, as quoted by detik.com.
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