Indonesia's IDX Closed Up 0.89% as Market Awaits New Minister's Appointment (Tuesday, October 15, 2024)
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The Jakarta Composite Index (IHSG) strengthened by 0.89% to 7,626.95 at the close of trading on Tuesday (15/10/2024).
This strengthening occurred amid a wait-and-see attitude from market players regarding the ministerial lineup in the Prabowo Subianto-Gibran Rakabuming Raka cabinet.
"The market views that the President-elect Prabowo's selection of ministers from President Joko Widodo's cabinet signals continuity," wrote the Pilarmas Investindo Sekuritas Research Team in its analysis, as reported by Antara, Tuesday (15/10/2024).
In addition, Sri Mulyani is expected to return as Minister of Finance. This is considered to provide positive sentiment to the market regarding the sustainability of the Indonesian economy in the future.
Based on the IDX-IC Sectoral Index, six stock sectors strengthened today. The primary consumer goods sector led with a 1.38% increase, followed by the health and technology sectors, which rose by 1.23% and 1.13%, respectively.
Meanwhile, three other stock sectors were corrected; the infrastructure sector fell the most, by 0.28%. This was followed by the energy and property sectors, which fell by 0.07% and 0.02%, respectively.
According to RTI Business data, the frequency of domestic stock trading today reached 1.27 million transactions.
A total of 22.75 billion shares changed hands, with a total transaction value of Rp 10.55 trillion.
303 stocks closed higher today, 261 stocks weakened, and 237 stocks were stagnant.
Today's top gainers were MARI, which soared 29.41%, followed by BCIP and MLPL, which rose by 22% and 21.18%, respectively.
On the other hand, the stock with the code CRSN became the top loser after falling 13.87%, followed by TNCA and IBOS, which corrected by 8.86% and 7.89%, respectively.
Unlike the IHSG, almost all Asian stock exchanges closed in the red this afternoon. The Hang Seng Index fell 3.67% to 20,318.78; the Shanghai Index fell 2.53% to 3,201.29; the Straits Times Index fell 0.01% to 3,595.46; while the Nikkei Index rose 0.77% to 39,910.60.
"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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