Indonesia's IDX Closes Up 1.08% Following Latest BPS Economic Data (Monday, July 1, 2024)

The Jakarta Composite Index (JCI) strengthened by 1.08% to 7,139.62 at the close of trading on Monday (1/7/2024). This index strengthening occurred after the Central Bureau of Statistics (BPS) released domestic economic data.

Indonesia recorded a monthly deflation of 0.08% (month-to-month/mtm) in June 2024. This is the second deflation this year. Meanwhile, inflation was 2.51% year-on-year (yoy) in June 2024.

This inflation figure decreased by 0.33 percentage points from May 2024, which was 2.84% (yoy). June 2024 inflation also fell by 1.01 percentage points from June 2023, which was 3.52% (yoy).

(See also: Inflation in Indonesia Falls to 2.51% in June 2024)

Based on the IDX-IC Sectoral Index, eight domestic stock sectors strengthened today. The transportation sector led with a 4.14% increase, followed by the basic materials and energy sectors, which rose by 3.15% and 2.27%, respectively.

Meanwhile, three other stock sectors experienced corrections. The health sector fell the most, by 0.45%, followed by the property and infrastructure sectors, which fell by 0.21% and 0.10%, respectively.

According to RTI Business data, the frequency of stock trading on the domestic exchange today was 921,600 transactions.

A total of 14.75 billion shares changed hands, with a total transaction value of approximately Rp 14.14 trillion.

321 stocks closed higher today, 241 stocks were stagnant, and 233 stocks weakened.

Today's top gainers were BTEK and TAXI, both soaring 100%, followed by WIKA, which rose 23.26%.

On the other hand, the stock with the code SBAT became the top loser after plummeting 50%, followed by LABA and BDKR, which fell by 13.50% and 10.37%, respectively.

All Asian regional exchanges closed in the green this afternoon. The Nikkei index rose 0.12% to 39,631.10, the Shanghai index rose 0.92% to 2,994.72, and the Straits Times index rose 0.17% to 3,338.57. The Hang Seng index was closed for a national holiday.

(See: 10 Stock Sectors Strengthen, JCI Reclaims 7,000 (Friday, June 28, 2024))