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Conglomerate Issuers Weigh Down the IHSG During its Plunge

Erlina Fury Santika 19/03/2025 07:32 WIB

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Data published by the Indonesia Stock Exchange (IDX) shows that 10 issuers were the top laggards, weighing down the Jakarta Composite Index (IHSG). The IHSG experienced a sharp decline and even a tra

Top 10 IHSG Laggard Stocks (March 18, 2025)

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Conglomerate Issuers Weigh Down the IHSG During its Plunge

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Top 10 IHSG Laggard Stocks (March 18, 2025)

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Indonesia Stock Exchange (IDX) data shows a number of top laggard stocks weighing down the Jakarta Composite Index (JCI) on Tuesday, March 18, 2025.

First was PT DCI Indonesia Tbk (DCII), whose price plummeted by 20%, hitting the auto reject lower (ARB). Its negative impact on the JCI reached 38.21 points. According to CNBC Indonesia, DCII is owned by Toto Sugiri, a leader in Indonesia's data center industry.

Second was PT Chandra Asri Pacific Tbk, owned by conglomerate Prajogo Pangestu. This issuer, with the stock code TPIA, corrected by 18.42%, weighing down the JCI by 27.98 points.

Third was another Prajogo Pangestu-owned company, PT Barito Renewables Energy (BREN), which fell 11.79%, contributing 26.01 points to the decline.

Another company owned by Prajogo Pangestu, PT Barito Pacific Tbk (BRPT), was ranked tenth, falling 15.48% with a smaller contribution to the decline of 7.59%.

Besides companies owned by conglomerates, the top laggards also included banking issuers such as BBRI, BBCA, BMRI, and BBNI, as shown in the graph.

The JCI closed down 3.84% at 6,223.39 at the close of trading on Tuesday, March 18, 2025.

Earlier, the JCI had plunged as much as 6% in the first trading session, prompting the IDX to implement a trading halt. This was the first such halt since the COVID-19 pandemic, or around March 2020.

"The JCI was powerless and experienced a trading halt, likely influenced by market players responding to concerns about domestic economic conditions," said Maximilianus Nicodemus, Associate Director of Pilarmas Investindo Sekuritas, as reported by Antara on Tuesday, March 18, 2025.

The following is a list of the top laggard stocks impacting the JCI on Tuesday, March 18, 2025:

1. PT DCI Indonesia Tbk (DCII)
2. PT Chandra Asri Pacific Tbk (TPIA)
3. PT Barito Renewables Energy (BREN)
4. PT Bank Rakyat Indonesia Tbk (BBRI)
5. PT Bank Central Asia Tbk (BBCA)
6. PT Amman Mineral International Tbk (AMMN)
7. PT Bank Mandiri Tbk (BMRI)
8. PT Sumber Alfaria Trijaya Tbk (AMRT)
9. PT Barito Pacific Tbk (BRPT)
10. PT Bank Negara Indonesia Tbk (BBNI)

(See also: Trading Halted, JCI Closes Down 3.84% (Tuesday, March 18, 2025))

Editor : Erlina Fury Santika

"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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Conglomerate Issuers Weigh Down the IHSG During its Plunge

Conglomerate Issuers Weigh Down the IHSG During its Plunge

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