Indonesia's Stock Exchange (IHSG) Closes Lower Following Announcement of Ant Group Management (Monday, March 24, 2025)

The Jakarta Composite Index (IHSG) fell 1.55% to 6,161.22 at the close of trading on Monday (March 24, 2025).

The index weakened today following the announcement of the board of directors of the government investment management agency, Danantara.

Pilarmas Sekuritas assessed that the weakening index was driven by market players' response to the currently unfavorable domestic economic conditions, including issues related to layoffs and weak household purchasing power.

"The market is worried about a potential crisis of public confidence due to the government's perceived anti-people stance, evidenced by demonstrations related to the ratification of the TNI Law, and anxieties surrounding the establishment of the Daya Anagata Nusantara Investment Management Agency (Danantara)," said the Pilarmas Sekuritas team, as reported by *Katadata*, Monday (March 24, 2025).

Based on the IDX-IC Sectoral Index, 10 out of 11 stock sectors were corrected today. The basic materials sector fell the most, by 3.2%, followed by the property and energy sectors, which fell by 2.68% and 2.63%, respectively.

The only sector to strengthen today was the technology sector, with a 3.79% increase.

According to RTI Business data, the frequency of stock trading on the domestic exchange today was 1.06 million transactions.

A total of 14.70 billion shares changed hands, with a total transaction value of Rp 14.37 trillion.

500 stocks closed lower today, 168 stocks were stagnant, and 134 stocks strengthened.

The stock with the code BINO was the *top loser* today after plummeting 28.98%, followed by FORU and WINE, which fell by 24.69% and 24%, respectively.

On the other hand, the *top gainer* today was INAI, which soared 34.16%, followed by RELI and POLU, which rose by 21.95% and 19.9%, respectively.

Unlike the IHSG, the majority of Asian markets closed in the green this afternoon. The Hang Seng Index rose 0.91% to 23,905.56; the Shanghai index rose 0.15% to 3,370.03; the Strait Times index rose 0.25% to 3,936.33; while the Nikkei Index fell 0.18% to 37,608.49.