IHSG closes higher, buoyed by rebound in energy and basic materials sectors

Jakarta (ANTARA) - The Jakarta Composite Index (IHSG) on Friday afternoon closed higher, supported by a rebound in shares of the energy and basic materials sectors. The IHSG closed up 67.11 points or 1.10 percent at 6,162.05. Meanwhile, the LQ45 index rose 4.04 points or 0.66 percent to 620.44.

“The IHSG closed higher in line with the rally in energy and basic materials shares,” said Ratna Lim, Head of Research at Phintraco Sekuritas, in Jakarta on Friday.

The IHSG closed higher after previously slipping to a low of 5,966.86 during the trading day, with nearly all sectors finishing in the green.

Gains were mainly led by the energy and basic materials sectors, up 6.85 percent and 4.84 percent respectively, amid rumours that Indonesia will delay the full implementation of its coal export policy and other state‑controlled strategic commodities until 1 January 2027.

“The delay is seen as providing a longer transition period for exporters and international buyers to adjust to the policy change,” Ratna said.

Opening weaker, the IHSG moved into positive territory and remained in the green through the close of the first trading session. In the second session, it stayed in the green until the close.

Based on the IDX-IC Sectoral Index, ten sectors rose, led by the basic materials sector, up 6.74 percent, followed by the energy sector up 4.82 percent and the non-primary consumer goods sector up 2.43 percent.

One sector declined—the financial sector, down 0.07 percent.

Leading gainers included DFAM, CTBN, PBSA, TALF, and MDKA. The biggest losers were PGLI, ASPR, BOBA, LCKM, and APIC.

Trading activity totalled 1,970,670 transactions, with 40.28 billion shares traded valued at Rp21.56 trillion.

A total of 449 stocks rose, 251 fell, and 118 were unchanged.

Regional stock markets in Asia were mixed this morning, with the Nikkei up 1,690.86 points or 2.74 percent to 63,375.00, the Shanghai Composite up 35.62 points or 0.87 percent to 4,112.90, the Hang Seng up 219.51 points or 0.86 percent to 25,606.03, and the Straits Times up 22.44 points or 0.44 percent to 5,068.15.