Indonesia's IDX Closed Lower Following Inflation Data Release (Friday, March 1, 2024)

The Jakarta Composite Index (JCI) closed down 4.20 points or 0.06% to 7,311.91 on Friday (March 1, 2024).

The index weakened today after the Central Bureau of Statistics (BPS) released February 2024 inflation data.

BPS reported that Indonesia experienced annual inflation of 2.75% (year-on-year/yoy) in February 2024, strengthening from 2.57% (yoy) in January 2024.

Based on the IDX-IC Sectoral Index, three sectors declined today. The technology sector fell the most, by 0.77%, followed by the transportation-logistics and finance sectors, which fell by 0.73% and 0.57%, respectively.

Meanwhile, eight other sectors increased, led by the infrastructure sector, which rose 0.67%, the property and real estate sector (0.50%), and the primary consumer goods sector (0.35%).

According to RTI Business data, the frequency of stock trades on the domestic exchange today totaled 1.22 million transactions.

A total of 15.55 billion shares changed hands, with a transaction value of Rp10.75 trillion.

ALII was today's top loser, plunging 24.44%, followed by VKTR and FIRE, which fell 15.25% and 8.74%, respectively.

On the other hand, MUTU was today's top gainer, surging 19.77%, followed by VISI and SMLE, which rose 17.86% and 11.02%, respectively.

A total of 285 stocks closed lower today, 242 were stagnant, and 231 strengthened.

Regional Asian stock exchanges showed mixed movements this afternoon. The Nikkei index rose 1.90% to 39,910.80, the Hang Seng index rose 0.47% to 16,589.43, the Shanghai index rose 0.39% to 3,027.02, and the Straits Times index weakened 0.19% to 3,135.76.