IHSG closes higher, supported by banking and conglomerate stocks
Jakarta (ANTARA) - The Composite Stock Price Index (IHSG) of the Indonesia Stock Exchange (BEI) closed higher on Tuesday afternoon, supported by gains in banking sector and conglomerate stocks.
The IHSG closed up 85.16 points or 1.22% at 7,057.11. Meanwhile, the LQ45 index of 45 leading stocks rose 7.02 points or 1.04% to 681.58.
“The IHSG turned positive, driven among others by rises in conglomerate and banking stocks,” said Head of Research at Phintraco Sekuritas Ratna Lim in her analysis in Jakarta on Tuesday.
Domestically, financial sector stocks, particularly banking, strengthened, followed by conglomerate shares.
The Central Statistics Agency (BPS) reported Indonesia’s economic growth of 5.61% year-on-year (yoy) in the first quarter of 2026, supported by increased consumer purchasing power during Ramadan and Eid al-Fitr, as well as the distribution of Holiday Allowances (THR).
Meanwhile, the Ministry of Finance reported that the State Revenue and Expenditure Budget (APBN) recorded a deficit of Rp240.1 trillion or 0.93% of GDP as of 31 March 2026. Previously, BPS reported Indonesia’s Consumer Price Index (CPI) inflation at 2.42% (yoy) in April 2026.
Internationally, global crude oil prices rose following heightened tensions between the United States (US) and Iran over the Strait of Hormuz. US President Donald Trump announced Project Freedom to help reopen stalled shipping traffic through the Strait of Hormuz.
Meanwhile, Iranian state media said missiles had been fired at a US destroyer approaching the strait, with two hitting the naval vessel.
The US Central Command rejected the claim, stating no ships were hit, and instead said two US commercial vessels had successfully passed through the strait.
Meanwhile, the United Arab Emirates (UAE) said its air defences had engaged in missile and drone attacks coming from Iran. The attacks caused fires at the Fujairah Oil Industry Zone (FOIZ), a major oil trading and storage hub located in the emirate of Fujairah.
Opening lower, the IHSG moved into positive territory until the close of the first trading session. In the second session, the IHSG remained in the green zone until the close of trading.
Based on the IDX-IC Sectoral Index, seven sectors advanced, led by the basic materials sector which rose 2.92%, followed by the infrastructure goods sector and the financial sector, each up 2.66% and 2.25% respectively.
Meanwhile, four sectors declined, with the health sector falling the most at 1.42%, followed by the technology sector and the industrial sector, down 0.49% and 0.16% respectively.
The stocks with the largest gains were ENZO, ABDA, KONI, BRPT, and NIKL. The stocks with the largest price declines were FWCT, YPAS, INDS, HERO, and INCO.
Share trading frequency was recorded at 2,461,876 transactions, with 43.92 billion shares traded worth Rp23.87 trillion. A total of 342 stocks rose, 314 fell, and 163 remained unchanged.
Regional Asian stock markets this morning included the Nikkei index up 228.20 points or 0.38% to 59,513.12, the Shanghai index up 4.64 or 0.11% to 4,112.16, the Hang Seng down 197.27 points or 0.76% to 25,898.61, and the Straits Times down 3.70 points or 0.08% to 4,920.61.