IDHSG Rallies Again, RATU Stock Leads (Friday, January 17, 2025)

The Jakarta Composite Index (IHSG) rose 0.66% to close at 7,154.66 on Friday, January 17, 2025.

Today, RATU, a company owned by the husband of House Speaker Puan Maharani, became the top gainer after soaring 24.71%.

Since its listing on the Indonesia Stock Exchange (IDX) last week (January 8, 2025), RATU shares have been under market scrutiny due to their unusual price increases, exhibiting unusual market activity (UMA).

"Regarding the UMA on RATU shares, the IDX is monitoring the development of the transaction patterns of these shares," the IDX wrote in a disclosure earlier this week (January 14, 2025).

On the other hand, BRRC became today's top loser after plunging 31.82%, followed by GULA and GPSO, which corrected by 24.66% and 21.40%, respectively.

Based on the IDX-IC Sectoral Index, seven sectors strengthened today. The non-primary consumer goods sector led with a 2.17% increase, followed by the property and technology sectors, which rose 1.74% and 1.25%, respectively.

Meanwhile, four other sectors declined. The transportation sector fell the most, by 0.78%, followed by the health and basic materials sectors, which fell 0.77% and 0.41%, respectively.

According to RTI Business data, today's domestic stock market trading frequency totaled 1.32 million transactions.

A total of 21.72 billion shares changed hands, with a total transaction value of Rp 12.13 trillion.

330 stocks closed lower today, 240 stocks rose, and 236 stocks remained unchanged.

Asian markets also generally strengthened this afternoon. The Hang Seng Index rose 0.31% to 19,584.06; the Shanghai Index rose 0.18% to 3,241.82; the Strait Times Index rose 0.25% to 3,810.78; while the Nikkei Index fell 0.31% to 38,451.46.

Pilarmas Sekuritas believes the strengthening of the IHSG and several Asian exchanges this afternoon is supported by positive sentiment ahead of Donald Trump's inauguration on January 20, 2024.

"The IHSG and regional Asian exchanges tend to strengthen as the market focuses on the inauguration of Donald Trump as President of the United States, and responds to the release of China's economic data," said the research team at Pilarmas Investindo Sekuritas, as reported by Antara, Friday, January 17, 2025.