Indonesia's IDX Closes Higher Amidst Rising US Inflation (Friday, December 12, 2023)

The Jakarta Composite Index (IHSG) strengthened by 21.17 points or 0.29% to 7,241.13 at the close of trading on Friday (12/1/2024).

This increase in the stock index occurred after an announcement on Thursday evening (11/1/2024) that inflation had risen to 3.4% (year-on-year/yoy). This figure exceeded analysts' projections of 3.2%.

Based on the IDX-IC Sectoral Index, four sectors increased, led by the industrial sector at 0.84%, followed by the energy and basic materials sectors, which rose by 0.78% and 0.75% respectively.

Meanwhile, seven sectors declined, with the transportation and logistics sector falling the most at -1.05%, followed by the infrastructure sector and the property and real estate sector, which fell by -0.95% and -0.76% respectively.

According to RTI Business data, the frequency of stock trades on the domestic exchange today totaled 1.16 million transactions.

A total of 17.21 billion shares changed hands, with a total transaction value of Rp9.41 trillion.

The majority, or 281 stocks, weakened, 257 stocks were stagnant, and 228 stocks strengthened.

Today's top gainers were MPXL, which soared 20%, followed by WIDI and KING, which rose 9.52% and 9.50% respectively.

Meanwhile, the stock with the code CGAS was today's top loser after plunging 24.89%, followed by SMLE and NICE, which fell 24.49% and 24.32% respectively.

Regional Asian stock exchanges showed varied movement this afternoon. The Nikkei index strengthened by 1.50% to 35,577.10, the Hang Seng index weakened by 0.35% to 16,244.58, the Shanghai index weakened by 0.16% to 2,881.98, and the Straits Times index weakened by 0.30% to 3,191.72.

(See also: IHSG Closed Lower as Market Takes a "Wait and See" Approach to US Inflation Release (Thursday, January 11, 2024))