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.
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search results
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search resultsIDX outperforms Asian markets on domestic optimism
Analysts highlighted easing uncertainty following the assessment by global index provider MSCI, along with positive sentiment surrounding President Prabowo Subianto’s annual speech, as the main drivers of the stock rally.
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!
Set as preferred source
An electronic board displays stock prices at the Indonesia Stock Exchange (IDX) on Jan. 29 in Jakarta. (AFP/Yasuyoshi Chiba)
T
he Indonesia Stock Exchange (IDX) Composite Index rose on Tuesday despite declines in global markets, supported by strong gains in the energy sector and improved domestic sentiment that lifted large-cap stocks.
The benchmark index was up 1.2 percent by midday and closed 0.75 percent higher at 6,449.83 points. It saw broad-based gains, with 10 of its 11 sectors advancing, led by the energy sector with a 2.24 percent rise.
Meanwhile, other Asian markets, including Japan’s Nikkei and South Korea’s Kospi, fell 2.54 percent and 1.55 percent, respectively.
The gains on IDX were driven by domestic optimism, as foreign investors remained net sellers, offloading US$19.89 million worth of shares on the day.
Some of the top-performing stocks hit their upper auto rejection (ARA) limits on Tuesday, including palm oil plantation firm PT Jhonlin Agro Jaya, owned by local conglomerate Haji Isam, whose share price surged 24.88 percent to Rp 2,510 apiece.
However, the Indonesian bourse remains down 25.41 percent from the start of the year, leaving it among Asia’s worst-performing markets.
Read also: IDX rebounds after long holiday amid geopolitical jitters
