Positive Response to China's Stimulus, Indonesia's IHSG Closes Up 0.05% (Thursday, September 26, 2024)

The Jakarta Composite Index (JCI) edged up 0.05% to close at 7,744.51 on Thursday (26/9/2024). This increase is in line with the strengthening of regional Asian stock exchanges.

Pilarmas Sekuritas stated that the strengthening of Asian stock exchanges was driven by the positive market response to continued stimulus from China and optimism towards global growth this year.

The Chinese government will provide cash assistance to low-income groups and provide social assistance to graduates who have been unemployed for two years to boost employment.

"The market views this stimulus as an effort to maintain public purchasing power to support increased public consumption or the economy," wrote Pilarmas Sekuritas in its study, as reported by *Katadata*, Thursday (26/9/2024).

Based on the IDX-IC Sectoral Index, eight stock sectors strengthened today. The health sector led with a 2.29% increase, followed by the property and technology sectors, which rose 2.01% and 1.58%, respectively.

Then three other stock sectors were corrected, the transportation sector leading with a 0.79% increase. This was followed by the non-primary consumer goods and financial sectors, which fell 0.41% and 0.40%, respectively.

According to RTI Business data, the frequency of stock trading on the domestic exchange today reached 1.37 million transactions.

A total of 22.64 billion shares changed hands, with a total transaction value of approximately Rp 17.86 trillion.

A total of 310 stocks closed lower today, 281 stocks strengthened, and 211 stocks were stagnant.

Today's top gainers were CSRN, which soared 13.98%, followed by TRON and MEJA, which rose 13.46% and 9.94%, respectively.

On the other hand, the stock with the code ASPI became the top loser after plunging 10.53%, followed by MPOW and MANG, both falling 9.09%.

In line with the strengthening of the JCI, almost all Asian stock exchanges closed in the green. The Nikkei index strengthened by 2.79% to 38,925.60, the Hang Seng index strengthened by 4.16% to 19,924.58, the Shanghai index strengthened by 3.61% to 3,000.94, while the Straits Times index weakened by 0.03% to 3,582.22.