Indonesia's Stock Exchange (IHSG) Closed Lower Amidst Heightened Iran-Israel Conflict (Tuesday, April 16, 2024)

The Jakarta Composite Index (IHSG) closed down 122.07 points, or 1.68%, to 7,164.80 on Tuesday's (16/4/2024) trading session.

Phintraco Sekuritas stated that the index's weakening was partly triggered by concerns over geopolitical tensions between Iran and Israel.

"Furthermore, domestically, the Rupiah continues to weaken against the US dollar. The IHSG's weakening is also in line with the Rupiah's depreciation," Phintraco Sekuritas said, as reported by *Katadata*, Tuesday (16/4/2024).

Based on the IDX-IC Sectoral Index, nine sectors experienced corrections, led by the non-primary consumer goods sector, which fell by 3.29%. This was followed by the property and technology sectors, which fell by 3.25% and 2.84%, respectively.

Meanwhile, two other sectors strengthened: the basic materials sector and the energy sector, which rose by 2.39% and 2.32%, respectively.

According to RTI Business data, the frequency of stock trades on the domestic exchange today totaled 1.81 million transactions.

A total of 24.69 billion shares changed hands, with a transaction value reaching Rp 23.01 trillion.

457 stocks closed lower today, 175 stocks were stagnant, and 165 stocks strengthened.

PTPS was today's *top loser*, plunging 9.50%, followed by ARTO and BUKA, which fell by 9.09% and 8.22%, respectively.

On the other hand, today's *top gainers* were MHKI and ATLA, both soaring 35%, followed by SBMA, which rose 16.55%.

Meanwhile, regional Asian stock exchanges closed in the red this afternoon. The Hang Seng Index fell 2.12% to 16,248.96, the Shanghai Index fell 1.65% to 3,007.07, and the Straits Times Index fell 1.22% to 3,144.76.

The Nikkei index was closed for a national holiday.