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IDX Composite back in green ahead of VP candidate debate

Jakarta Post - December 22, 2023

Jakarta – The Indonesia Stock Exchange (IDX) Composite (IHSG) was back in the green on Friday, surging by 0.39 percent, or 27.90 points, to close at 7,237.52 ahead of the vice presidential candidate debate later in the evening.

The debate is expected to delve into crucial themes including the national economy, the digital economy, finance, tax, investment, trade, state and regional budget management, infrastructure and urban development.

The vice presidential candidates' arguments can provide insight into their policy ideas, which will significantly impact Indonesia's economic trajectory.

In the trading session, the market recorded a total trade volume of 41.5 billion shares traded, amounting to Rp 15.84 trillion (US$1.03 billion). Of the listed stocks, 267 saw gains, 253 declined and 237 remained unchanged.

Seven sectoral indexes contributed to the IDX Composite's positive movement. The raw goods sector led with a 0.78 percent increase, followed by the non-primary consumer goods sector, with a 0.68 percent rise and the industrial sector, with a 0.52 percent gain.

The financial and health sectors also rose by 0.38 percent and 0.34 percent, respectively. Other sectors that recorded gains were infrastructure at 0.27 percent and primary consumer goods at 0.11 percent.

Meanwhile, transportation and logistics dipped by 1.21 percent, technology lost 0.18 percent, energy trimmed 0.15 percent and property edged 0.20 percent lower.

The LQ45 index also closed higher, rising by 0.33 percent to 967.36. PT Merdeka Copper Gold (MDKA) led the top gainers with a 5.84 percent increase. PT Mitra Adiperkasa (MAPI) closed 2.92 percent higher while PT Semen Indonesia (SMGR) gained 2.03 percent.

PT Barito Pacific (BRPT) recorded the biggest percentage loss among companies traded at the IDX, with a 4.41 percent decline. PT GoTo Gojek Tokopedia (GOTO) followed with a 2.27 percent decline and PT Elang Mahkota Teknologi (EMTK) dropped by 1.80 percent.

Source: https://www.thejakartapost.com/business/2023/12/22/idx-composite-back-in-green-ahead-of-vp-candidate-debate.htm