Summary: The Jakarta benchmark closed the trading day down 0.87% as selling pressure in Infrastructure, Financials and Agriculture sectors pushed the market lower. Market breadth was negative, with 535 issues falling, 161 rising and 139 unchanged. Commodity moves included higher crude and Brent oil and a small decline in gold futures. Currency moves were modest, with USD/IDR slightly stronger and AUD/IDR weaker.
Indonesia's stock market finished the session in negative territory on Wednesday, with the IDX Composite Index posting a 0.87% decline at the close in Jakarta. The pullback was driven by losses concentrated in the Infrastructure, Financials and Agriculture sectors.
At the individual stock level, the session's strongest gains came from smaller-cap names. Magna Finance Tbk (JK:MGNA) led the winners, jumping 34.44% or 31.00 points to settle at 121.00. Selaras Citra Nusantara Perkasa Tbk (JK:SCNP) added 22.73% or 35.00 points to finish at 189.00, while Dwi Guna Laksana Tbk PT (JK:DWGL) rose 16.78% or 48.00 points to close at 334.00.
On the downside, M Cash Integrasi Tbk PT (JK:MCAS) recorded the steepest loss among active names, sliding 14.81% or 48.00 points to end at 276.00. Saranacentral Bajatama Tbk (JK:BAJA) fell 14.29% or 32.00 points to finish at 192.00, and Kobexindo Tractors Tbk (JK:KOBX) declined 14.65% or 29.00 points to close at 169.00.
Overall market breadth favored sellers: 535 stocks declined on the Jakarta Stock Exchange, 161 advanced and 139 were unchanged by the close.
In commodities trading, energy benchmarks moved higher. Crude oil for September delivery climbed 3.82% or 3.03 to $82.29 a barrel. Brent oil for October delivery increased 3.47% or 2.85 to $84.93 a barrel. Precious metal futures were slightly lower, with the August Gold Futures contract slipping 0.08% or 3.20 to trade at 4,035.50 a troy ounce.
Currency markets were mixed during the session. USD/IDR was up 0.09% at 18,072.30, while AUD/IDR fell 0.45% to 12,533.02. The US Dollar Index Futures traded down 0.08% at 101.18.
Key points
- IDX Composite Index closed down 0.87%, with the Infrastructure, Financials and Agriculture sectors leading declines.
- Winners included MGNA (+34.44%), SCNP (+22.73%) and DWGL (+16.78%); major declines were recorded by MCAS (-14.81%), BAJA (-14.29%) and KOBX (-14.65%).
- Commodity and currency moves were mixed: crude and Brent oil rose notably, gold futures ticked down, USD/IDR edged up and AUD/IDR weakened.
Risks and uncertainties
- Concentrated sector weakness in Infrastructure, Financials and Agriculture could continue to pressure index performance if selling persists.
- Volatility in energy prices, with crude and Brent moving higher, may affect energy-linked stocks and broader market sentiment.
- Currency fluctuations - notably a firmer USD/IDR and weaker AUD/IDR - could influence exporters, importers and companies with foreign-currency exposures.
This report reflects market prices and counts as reported at the close in Jakarta, including the detailed price movements of the named stocks and commodities.