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Indonesian Stocks Edge Lower as Infrastructure and Agriculture Sectors Weigh
Indonesia's main stock index finished slightly lower in Wednesday's session, as losses in key sectors offset gains elsewhere in the market. The IDX Composite Index declined by 0.13% by the close of trading in Jakarta.
Sector-Led Decline
The modest downturn was primarily driven by negative performance in the Infrastructure, Agriculture, and Basic Industry sectors, according to market data. The session's market breadth reflected broader weakness, with declining stocks outnumbering advancers on the Jakarta Stock Exchange by a margin of 456 to 248, while 126 stocks ended the day unchanged.
Among the session's worst performers were:
- Estee Gold Feet PT Tbk (EURO), which fell 9.82%.
- Graha Prima Mentari PT Tbk (GRPM), declining 9.35%.
- Utama Radar Cahaya Tbk PT (RCCC), which dropped 8.79%.
AdOn the positive side, notable gainers included Mitra Energi Persada Tbk PT (KOPI), which surged 20.81%, and Koka Indonesia PT (KOKA), which added 16.81%. Shares in Mitra Komunikasi Nusantara Tbk PT (MKNT) rose 12.50% to a three-year high.
Currency and Commodity Markets
In currency markets, the Indonesian Rupiah weakened against the U.S. dollar, with the USD/IDR pair rising 0.33% to 18,167.70. The US Dollar Index Futures, which tracks the greenback against a basket of other major currencies, was up 0.05% at 102.22.
Commodity markets showed mixed results. Crude oil prices advanced, with the December contract for WTI Crude up 1.39% to $101.29 a barrel, while the January Brent oil contract rose 1.33% to $110.87 a barrel. In contrast, the December Gold Futures contract fell 0.27% to trade at $4,063.60 a troy ounce.
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