Indonesia's Stock Exchange (IHSG) Weakens After Danantara's Inauguration (Monday, February 24, 2025)

The Jakarta Composite Index (IHSG) closed down 0.78% at 6,749.60 on Monday (February 24, 2025).

The index fell today after President Prabowo inaugurated the Nusantara Investment Management Agency (BPI Danantara) at the Presidential Palace in Jakarta.

According to Pilarmas Sekuritas, market players hope the establishment of Danantara will make a positive contribution to the domestic economy.

"The market certainly awaits proof of the BPI's establishment in line with the goals of the Prabowo Subianto administration. This is the market's hope amidst the pros and cons of the BPI's formation," wrote Pilarmas Sekuritas in its research, as reported by *Katadata.co.id*, Monday (February 24, 2025).

Based on the IDX-IC Sectoral Index, six sectors experienced corrections today. The infrastructure sector fell the most, by 2.11%, followed by the basic materials and energy sectors, which corrected by 1.81% and 1.66%, respectively.

Meanwhile, five sectors strengthened. The technology sector led with a 7.28% increase. This was followed by the transportation and industrial sectors, which rose by 1.03% and 0.28%, respectively.

According to RTI Business data, the frequency of stock trading on the domestic exchange today was 1.21 million transactions.

A total of 33.68 billion shares changed hands, with a total transaction value of Rp 12.18 trillion.

351 stocks closed lower today, 223 stocks rose, and 218 stocks were stagnant.

OBAT was today's top loser, falling 17.86%, followed by BTEK and CMNP, which fell 16.67% and 13.64%, respectively.

On the other hand, today's top gainer was IMJS, which soared 34.78%, followed by INET and DWGL, which rose 34.48% and 25%, respectively.

In line with the IHSG, most Asian markets weakened this afternoon. The Hang Seng Index fell 0.58% to 23,341.61; the Shanghai Index fell 0.18% to 3,373.03; the Straits Times Index fell 0.06% to 3,927.75; while the Nikkei Index rose 0.26% to 38,776.94.