Indonesia's Q1 2024 Economy Grew 5.11%, IHSG Strengthens (Monday, May 6, 2024)

The Jakarta Composite Index (JCI) strengthened by 1.16 points or 0.02% to 7,135.89 at the close of trading on Monday (May 6, 2024).

This strengthening occurred after the Central Bureau of Statistics (BPS) announced that Indonesia's economy grew by 5.11% (year-on-year/yoy) in the first quarter of 2024.

Acting Head of BPS, Amalia A. Widyasanti, stated that this achievement represents the highest first-quarter economic growth in the last five years.

"This is the highest quarterly growth from 2019 to 2024," said Amalia in an online press conference on Monday (May 6, 2024).

Based on the IDX-IC Sectoral Index, eight stock sectors increased today. The property sector led with a 2.56% increase, followed by the technology and basic materials sectors, which rose by 1.49% and 1.28%, respectively.

Meanwhile, three other stock sectors experienced corrections. The industrial sector fell the most, by 1.76%, followed by the infrastructure and healthcare sectors, which decreased by 0.09% and 0.03%, respectively.

According to RTI Business data, the frequency of stock trading on the domestic exchange today was 1.14 million transactions.

A total of 21.36 billion shares changed hands, with a transaction value of approximately Rp 11.65 trillion.

309 stocks closed higher today, 261 stocks weakened, and 209 stocks were stagnant.

Today's top gainers were LPKR, which soared 24.62%, followed by AREA and PYFA, which rose by 17.14% and 14.94%, respectively.

Meanwhile, the stock with the code TGUK was today's top loser after plunging 34.91%, followed by SURI and KOTA, which fell by 25% and 14.29%, respectively.

All Asian regional exchanges also closed in the green this afternoon. The Hang Seng Index strengthened by 0.55% to 18,578.30, the Shanghai Index rose by 1.16% to 3,140.71, and the Straits Times Index increased by 0.31% to 3,303.18.

The Nikkei index was closed for a national holiday.