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After six consecutive drops, the IDX Composite slightly recovered on Friday, as analysts suggested the market may struggle to surpass key resistance levels in the near term.
The IDX Composite index fell 1.84 percent on Thursday, marking its sixth straight day of losses. Analysts predict the index performance to remain weak by year-end.
IDX Composite index closed lower for the fifth consecutive day, with analysts predicting further pressure on the index amid concerns over weakening rupiah and Bank Indonesia's interest rate decision.
The IDX Composite index slid 1.39 percent to close at 7,157.73 on Tuesday, with broad declines across all sectors as investor sentiment toward the planned VAT increase weighed heavily on the market.
The IDX Composite closed lower by 0.9 percent on Monday. Despite the downturn, analysts remain optimistic.
The IDX Composite fell by 0.94 percent on Tuesday, as analysts foresee a sideways movement after recent gains despite optimism from United States inflation data.
The IDX Composite closed up 0.21 percent on Tuesday despite foreign outflows and global economic concerns.
The IDX Composite index rose by 0.74 percent on Monday, driven by sectoral gains, strong consumer confidence and the start of window dressing.
The IDX Composite rose by 0.95 percent to 7,382.785 on Friday, with strong gains in technology and property stocks.
The IDX Composite index closed 0.18 percent lower on Thursday. Still, analysts remain optimistic about a potential year-end rebound despite the pullback.