Story
Indonesian Stocks Hit 1-Month Low as IDX Composite Drops 0.78%
Summary
Indonesia's benchmark IDX Composite Index fell 0.78% to a new one-month low at Friday's close, driven by losses in the infrastructure, financials, and agriculture sectors.
Indonesian stocks closed lower on Friday, with the benchmark IDX Composite Index falling 0.78% to a new one-month low. The decline was driven by broad-based selling pressure, particularly in the infrastructure, financials, and agriculture sectors, according to market data from the close in Jakarta.
Market Performance
The negative sentiment was widespread across the Jakarta Stock Exchange. Market breadth was decidedly negative, with falling stocks outnumbering advancing ones by a significant margin of 620 to 99, while 111 stocks ended the session unchanged. This indicates generalized weakness rather than a downturn isolated to a few specific companies.
Key Stock Movers
The session's worst-performing stocks saw double-digit declines, highlighting the intensity of the selling pressure on certain names.
Ad- Top Decliners: Wahana Inti MakmurTbk PT (JK:NASI) fell 14.96%, Olympus Strategic Indonesia PT (JK:NATO) dropped 14.92%, and Kioson Komersial Indonesia Tbk PT (JK:KIOS) was down 14.89%.
- Top Gainers: A few stocks bucked the negative trend, with Hotel Sahid Jaya Tbk (JK:SHID) surging 24.83%. Guna Timur Raya PT (JK:TRUK) also posted a strong gain of 24.64%, rising to an all-time high.
Broader Context
The move in Indonesian equities came amid mixed signals from global commodity markets. Crude and Brent oil futures edged lower, while gold futures posted a modest gain. In the foreign exchange market, the Indonesian Rupiah was relatively stable against the U.S. dollar, with the USD/IDR pair down a marginal 0.02% to 17,877.80.
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