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 after US tariff delay
The IDX Composite closed 0.38 percent higher on Friday, rebounding after the previous day’s decline.
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!
A screen at the Indonesia Stock Exchange (IDX) in Jakarta shows stock quotes on Jan. 2, 2025. The IDX Composite Index closed 0.38 percent higher at 6,638.45 on Friday (Antara Foto/Hafidz Mubarak A)
T
he IDX Composite index managed to close on the last day of the week in the green, gaining 0.38 percent or 24.89 points to close at 6,638.45 on Friday. Despite the small uptick, the index recorded a 1.54 percent decline over the past week.
Trading volume reached 14.56 billion shares, with a total transaction value of Rp 14.51 trillion (US$920 million). Of the 790 stocks traded, 304 advanced, 242 declined, and 244 remained unchanged.
Ten out of 11 sectoral indices posted gains. The transportation sector led the upward trend, rising by 1.71 percent, followed by the property and real estate sector, which gained 1.19 percent, and the industrial sector, which added 1.15 percent. The only sector in negative territory was healthcare, which declined by 0.58 percent.
The top gainers on the LQ45 index were PT Semen Indonesia, which rose by 5.28 percent, PT Bank Jago, which jumped 4.92 percent, and PT Telkom Indonesia, which climbed 4.55 percent.
Meanwhile, the biggest decliners were PT Mitra Adiperkasa, which dropped by 6.56 percent, PT Japfa Comfeed Indonesia, which fell by 4.81 percent, and PT Bank Rakyat Indonesia, which declined by 3.26 percent.
The Composite index’ positive momentum was mainly influenced by investor reactions to United States President Donald Trump’s decision to delay tariff retaliation.
Trump signed a memorandum outlining a plan to impose reciprocal tariffs on US trading partners on Thursday. The directive tasked the US Trade Representative (USTR) and the commerce secretary with proposing tariffs on a country-by-country basis.
This process is expected to take weeks or even months to finalize.
Howard Lutnick, the nominee for commerce secretary, said all studies should be completed by April 1.
Trump also declared that non-tariff policies by other countries, including value-added tax (VAT) and other trade restrictions, would be considered unfair trade practices requiring tariff countermeasures.
He warned that countries would no longer be allowed to reroute goods through third countries to avoid tariffs. Additional tariffs, including on automobile imports, could also be introduced soon.
