Influenced by Goldman Sachs' Downgrade, Indonesia's Stock Exchange (IHSG) Weakens (Tuesday, March 11, 2025)

The Jakarta Composite Index (IHSG) fell 0.79% to 6,545.85 at the close of trading on Tuesday (March 11, 2025).

According to Pilarmas Sekuritas, the weakening IHSG was influenced by the actions of global investment institution Goldman Sachs, which downgraded its rating and recommendation for Indonesian financial assets from overweight to market weight.

"Goldman revealed that the Indonesian financial market has been under pressure for the past few months due to global tariff and trade war sentiments and a weakening domestic economy, causing investors to be fearful and flee the Indonesian financial market," said the Pilarmas Sekuritas research team, as reported by Katadata.co.id, Tuesday (March 11, 2025).

Based on the IDX-IC Sectoral Index, 10 out of 11 domestic stock sectors were corrected today. The basic materials sector fell the most, by 2.97%, followed by the non-primary consumer goods and primary consumer goods sectors, which fell 2.86% and 2.16%, respectively.

The only sector to strengthen today was the technology sector, with a 4.01% increase.

According to RTI Business data, the frequency of stock trading on the domestic exchange today was 1.10 million transactions.

A total of 20 billion shares changed hands, with a total transaction value of Rp 9.76 trillion.

416 stocks closed lower today, 197 stocks were stagnant, and 192 stocks strengthened.

The issuer with the code KAQI was the top loser today after plunging 31.13%, followed by SMDM and DATA, which fell 24.91% and 24.87%, respectively.

On the other hand, the top gainer today was MINA, which soared 34.39%, followed by RELI and BAIK, which rose 24.86% and 24.36%, respectively.

In line with the IHSG, the majority of Asian markets this afternoon were in the red. The Nikkei Index fell 0.64% to 36,793.11; the Hang Seng Index fell 0.01% to 23,782.14; the Strait Times Index fell 1.88% to 3,825.83; while the Shanghai Index rose 0.41% to 3,379.83.