Indonesia's Composite Stock Price Index (IHSG) closed down 0.87% amid protests against the regional elections bill (Thursday, August 22, 2024)
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The Jakarta Composite Index (IHSG) weakened by 0.87% to 7,488.67 at the close of trading on Thursday (22/8/2024).
The IHSG's decline occurred amid heated protests against the revision of the Regional Head Election Law in various regions.
Associate Director of Pilarmas Investindo Sekuritas, Maximilianus Nicodemus, stated that the unrest during the demonstrations influenced the attitudes of stock investors, although the fundamentals were considered strong.
"If there is unrest, (investor) expectations will fall, and if (expectations) fall, the IHSG will decline," said Maximilianus in his statement, as reported by *CNBC Indonesia* (Thursday, 22/8/2024).
Based on the IDX-IC Sectoral Index, all 11 stock sectors were corrected today. The infrastructure sector fell the most, by 1.50%, followed by the technology sector and the primary consumer goods sector, which fell by 1.40% and 4.23%, respectively.
According to RTI Business data, the frequency of stock trading on the domestic exchange today was 1.08 million transactions.
A total of 18.42 billion shares changed hands, with a transaction value of Rp 39.59 trillion.
389 stocks closed lower today, 202 stocks were stagnant, and 194 stocks strengthened.
The issuer with the code BBKP was today's *top loser* after plunging 7.58%, followed by IOTF and MPPA, which fell by 7.55% and 7.27%, respectively.
On the other hand, today's *top gainer* was TMPO, which grew by 34.78%, followed by JAWA and NZIA, which rose by 34.48% and 33.33%, respectively.
Asian stock exchanges closed mixed this afternoon. The Nikkei Index strengthened by 0.68% to 38,211, the Hang Seng Index strengthened by 1.44% to 17,641, the Shanghai Index weakened by 0.27% to 2,848.77, and the Straits Times Index weakened by 0.01% to 3,373.58.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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