Indonesia's Stock Exchange (IHSG) Closes Lower Following News of Slower Economic Growth (Monday, February 5, 2024)
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The Jakarta Composite Index (IHSG) closed down 40.17 points, or 0.55%, to 7,198.61 on Monday (February 5, 2024).
This decline followed the release of data by the Central Bureau of Statistics (BPS) showing a slowdown in Indonesia's economic growth throughout 2023.
According to the BPS, Indonesia's economic growth in 2023 was 5.05% cumulative-to-cumulative (ctc). This is slower than the 5.31% (ctc) growth recorded in 2022.
(Read also: Indonesia's Economic Growth Slows to 5.05% in 2023)
Based on the IDX-IC Sectoral Index, ten out of eleven industrial sectors declined, led by the raw materials sector, which fell by 1.85%. Only the transportation & logistics sector saw an increase, rising by 0.17% today.
According to RTI Business data, there were 1.14 million transactions on the domestic stock exchange today.
A total of 33.26 billion shares changed hands, with a transaction value of Rp 11.54 trillion.
LMAX was the top loser today, plunging 10%, followed by WIDI and JTPE, which fell by 8.11% and 7.48% respectively.
On the other hand, SURI was the top gainer today, surging 24.32%, followed by PTPS and CUAN, which increased by 18.03% and 9.93% respectively.
A total of 335 stocks closed lower today, 231 stocks were stagnant, and 200 stocks strengthened.
Most regional Asian stock exchanges closed lower this afternoon. The Nikkei index rose 196.19 points or 0.54% to 36,354.19, the Hang Seng index fell 23.55 points or 0.15% to 15,510.01, the Shanghai index fell 27.96 points or 1.02% to 2,702.19, and the Straits Times index fell 45.48 points or 1.43% to 3,134.29.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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