Iran-Israel Conflict Intensifies, Indonesian Stock Exchange Weakens (Wednesday, October 2, 2024)

The Jakarta Composite Index (JCI) weakened by 1.03% to 7,563.26 at the close of trading on Wednesday (October 2, 2024).

The index fell amid escalating conflict between Iran and Israel. On Tuesday (October 1, 2024), Iran fired hundreds of missiles into Israeli territory in retaliation for the killing of leaders of the Hamas-Palestinian and Hezbollah-Lebanese groups.

"The escalation of tensions in the Middle East, which investors fear will disrupt the flow of oil supplies to the global market," said the research team at Phillip Sekuritas Indonesia, as reported by *Antara*, Wednesday (October 2, 2024).

Based on the IDX-IC Sectoral Index, 10 out of 11 stock sectors were corrected today. The transportation sector fell the most, by 1.95%, followed by the infrastructure sector and the non-primary consumer goods sector, which fell by 1.75% and 1.74%, respectively.

Only one stock sector strengthened, namely the basic materials sector, which rose slightly by 0.03%.

According to RTI Business data, the frequency of stock trading on the domestic exchange today was 1.50 million transactions.

A total of 33.68 billion shares changed hands, with a transaction value of Rp 14.86 trillion.

453 stocks closed lower today, 186 stocks were stagnant, and 163 stocks strengthened.

The issuer with the code PMMP was the *top loser* today after falling 13.50%, followed by BBYB and BIPI, which fell by 9.29% and 8.57%, respectively.

On the other hand, the *top gainer* today was INTD, which soared 34.01%, followed by NEST and MEDC, which rose by 8.99% and 8.95%, respectively.

Asian stock exchanges closed mixed this afternoon. The Nikkei Index fell 2.18% to 37,808.80, the Hang Seng Index rose 6.20% to 22,443.73, and the Straits Times Index rose 0.10% to 3,584.67, while the Shanghai index was closed for a holiday.