Indonesia's stock market closed lower on Friday, with the IDX Composite Index ending the session down 2.21% in Jakarta as declines in the Financials, Infrastructure and Agriculture sectors dominated trading.
At the close, the benchmark IDX Composite registered a 2.21% drop. Selling pressure was broad-based across the exchange, with a substantially higher number of decliners than advancers.
Among individual stocks, healthcare company Hetzer Medical Indonesia Tbk PT (JK:MEDS) delivered the strongest gain of the session, rising 34.48% or 30.00 points to finish at 117.00. Megapower Makmur TBK PT (JK:MPOW) added 27.27% or 30.00 points to close at 140.00, while Phapros Tbk PT (JK:PEHA) climbed 24.83% or 74.00 points to end the day at 372.00.
The biggest losers included Sinergi Inti Plastindo (JK:ESIP), which fell 15.00% or 33.00 points to 187.00 at the close. Pelat Timah Nusantara Tbk (JK:NIKL) declined 14.89% or 70.00 points to finish at 400.00, and Timah Tbk PT (JK:TINS) was down 14.63% or 600.00 points to 3,500.00.
On the Jakarta Stock Exchange, 574 stocks fell while 150 advanced and 132 were unchanged, illustrating the weight of selling across the market.
Two of the session's gainers also reached notable price milestones. Shares of Hetzer Medical Indonesia rose to three-year highs with the 34.48% increase to 117.00, while Phapros attained 52-week highs after its 24.83% rise to 372.00.
Commodity markets showed mixed movement. Crude oil for June delivery slipped 0.40% or 0.38 to trade at $94.43 a barrel. In contrast, Brent crude for July delivery edged higher by 0.16% or 0.16 to $100.22 a barrel. Precious metals were firmer, with the June Gold Futures contract up 0.33% or 15.76 to $4,726.66 a troy ounce.
Currency moves paralleled some of the market pressure. The USD/IDR exchange rate rose 0.68% to 17,371.90, while AUD/IDR increased 0.49% to 12,554.90. The US Dollar Index Futures was slightly lower, down 0.03% at 97.91.
Summary
The IDX Composite closed down 2.21% in Jakarta as losses concentrated in Financials, Infrastructure and Agriculture, with a greater number of declining stocks than advancing. Several small-cap names posted strong percentage gains, and selected commodity and currency indicators moved in differing directions.
Key points
- The IDX Composite fell 2.21% at the close in Jakarta.
- Top gainers included MEDS (+34.48% to 117.00), MPOW (+27.27% to 140.00) and PEHA (+24.83% to 372.00); largest decliners included ESIP (-15.00% to 187.00), NIKL (-14.89% to 400.00) and TINS (-14.63% to 3,500.00).
- Market breadth showed 574 decliners, 150 advancers and 132 unchanged listings.
Risks and uncertainties
- Sector concentration of losses - Financials, Infrastructure and Agriculture experienced material declines, posing near-term risks for investors with exposure to these sectors.
- Currency volatility - USD/IDR strengthened by 0.68%, which could affect earnings and funding costs for companies with foreign-currency exposures.
- Commodity price swings - Movements in crude oil and gold may impact firms linked to energy and commodity inputs, given the mixed direction in oil and a rise in gold futures.
This report presents the market movements and price data recorded at the close in Jakarta, along with associated commodity and currency figures as reported for the session.