Indonesian Stocks Close Lower as Agriculture, Property Sectors Weigh

Indonesia's benchmark stock index closed slightly lower on Monday, weighed down by losses in key sectors. The IDX Composite Index finished the session down 0.16%, according to data from the Jakarta Stock Exchange.

Sector Weakness Drives Decline

The modest downturn was primarily driven by poor performance in the Agriculture, Basic Industry, and Property sectors, which led shares lower. Despite the overall index decline, market breadth was positive, with advancing stocks outnumbering declining ones by a margin of 375 to 272, while 186 issues ended the day unchanged. This suggests that the losses were concentrated in specific, influential stocks rather than being widespread across the market.

Notable Stock Movements

Several companies experienced significant price swings during the session:

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• Top Gainers: DMS Propertindo Tbk PT (JK:KOTA) surged 34.16% to a three-year high, while Indo Acidatama Tbk (JK:SRSN) climbed 33.78% to a five-year high. Bank Sinarmas Tbk (JK:BSIM) also posted a strong gain of 24.82%.
• Top Losers: On the other end, Dwi Guna Laksana Tbk PT (JK:DWGL) fell 14.97%, Kian Santang Muliatama PT (JK:RGAS) declined 14.95%, and Tempo Inti Media Tbk (JK:TMPO) was down 14.81%.

Currency and Commodity Markets

In currency markets, the Indonesian Rupiah weakened against the U.S. dollar, with the USD/IDR pair rising 0.32% to 17,728.30. The move came as the US Dollar Index Futures edged down 0.16% against a basket of currencies.

Commodity markets saw divergent performance. Crude oil prices rose, with the October contract gaining 2.76% to $85.70 a barrel. In contrast, the December Gold Futures contract fell by 0.88% to trade at $4,490.06 a troy ounce.