Gotrade News – Indonesia’s Jakarta Composite Index (IHSG) closed 17.77 points or 0.24% lower at 7,541.61 on Wednesday. The index traded within a range of 7,513.94 to 7,578.05 throughout the session.
The decline came despite eight of eleven sectors posting gains. The transportation sector led advances with a 4.76% jump, followed by consumer cyclicals at 1.21% and industrials at 1.14%.
Key Takeaways:
- IHSG fell 0.24% to 7,541.61 with Rp18.01 trillion in total transaction value
- Bank Danamon (BDMN) surged 25% to Rp3,850 on MUFG merger speculation
- 8 of 11 sectors gained, led by transportation at +4.76%
Total trading volume reached 49.36 billion shares across 2.94 million transactions. The total transaction value hit Rp18.01 trillion for the day.
A total of 440 stocks advanced while 240 declined and 141 remained unchanged. The composition suggests a relatively balanced market despite the index closing in the red.
Danamon Soars, DSSA Tumbles
Bank Danamon (BDMN) was the top gainer, surging 25% to Rp3,850. The rally was driven by speculation about a merger between Danamon and its parent company, Japan’s MUFG.
On the downside, DSSA led decliners with a 9.71% drop to Rp2,510. Barito Renewables (BREN) also fell sharply by 9.62% to Rp5,400.
The most actively traded stock by value was Bank Rakyat Indonesia (BBRI) at Rp725.90 billion. Bank Central Asia (BBCA) followed at Rp620.10 billion, with KOTA at Rp598.66 billion.
Other Benchmark Indices Mixed
The LQ45 fell 1.04% to 735.97, while IDX30 edged slightly higher by 0.19% to 401.42. The Jakarta Islamic Index (JII) also declined 0.88% to 515.13 at the close.
Sectors posting losses included raw materials at -0.68% and energy at -0.16%. The property sector also dipped marginally by 0.03%.
For US stock investors, Indonesia’s market movements serve as a gauge of Southeast Asian sentiment. The S&P 500 ETF (SPY) provides a useful benchmark for comparing global index performance.