Indonesia's Stock Exchange (IHSG) Closed Lower Ahead of Vice Presidential Debate (Friday, January 19, 2024)

The Jakarta Composite Index (IHSG) weakened by 25.56 points or 0.35% to 7,227.4 at the close of trading on Friday (19/1/2024).

This index weakening occurred ahead of the vice-presidential candidate debate scheduled for Sunday (21/1/2024).

"The IHSG is moving variably in the run-up to the increasingly heated presidential election," said the Research Team of Pilarmas Investindo Sekuritas, as reported by Antara, Friday (19/1/2024).

In the fourth 2024 Presidential Debate with the vice-presidential candidates, the theme will focus on Sustainable Development, Natural Resources, Environment, Energy, Food, Agrarian Issues, and Indigenous and Village Communities.

Furthermore, the Pilarmas Investindo Research Team stated that the issue of the resignation of Finance Minister Sri Mulyani Indrawati is also attracting market attention. Previously, the Special Staff to the Minister of Finance stated that the Minister of Finance is still carrying out her duties and has never made any statement regarding resignation from the cabinet.

Coordinating Minister for Economic Affairs Airlangga Hartarto also denied rumors that the Minister of Finance intended to resign from her position as an aide to President Joko Widodo (Jokowi).

According to the Pilarmas Investindo Research Team, the market hopes that this false news can be resolved so as not to disrupt the current cabinet's operations and allow economic recovery to continue smoothly.

Based on the IDX-IC Sectoral Index, eight sectors declined, with the technology and transportation sectors experiencing the steepest drops at 0.83%, followed by the energy and infrastructure sectors, both down by 0.76%.

Meanwhile, three sectors increased today, led by the basic materials sector, which rose by 0.62%, followed by the finance and consumer staples sectors, which increased by 0.27% and 0.01%, respectively.

According to RTI Business data, the frequency of stock trading on the domestic exchange today was 1.13 million transactions.

A total of 15.48 billion shares changed hands, with a transaction value of Rp 9.65 trillion.

The issuer with the code GTRA was today's top loser after plunging 11.68%, followed by BANK and BREN, which fell by 11.07% and 9.73%, respectively.

On the other hand, today's top gainer was KYRA, which surged 33.96%, followed by CGAS and SHID, which increased by 22.37% and 20.1%, respectively.

A total of 327 stocks closed lower today, 238 stocks were stagnant, and 196 stocks strengthened.

Meanwhile, Asian regional stock exchanges closed mixed this afternoon, with the Nikkei index rising 497.10 points or 1.40% to 35,963.30, the Hang Seng index weakening 83.10 points or 0.54% to 15,308.69, the Shanghai index weakening 13.50 points or 0.47% to 2,832.28, and the Strait Times index strengthening 12.51 points or 0.40% to 3,152.29.