IHSG Closes Slightly Higher Amid Mix of Domestic and Global Sentiment
Jakarta (ANTARA) - The Indonesia Stock Exchange’s Composite Price Index (IHSG) closed slightly higher on Tuesday afternoon, supported by a combination of domestic and global sentiments.
The IHSG closed up 1.68 points, or 0.03 per cent, at 6,039.52. Meanwhile, the 45 most liquid stocks group, or LQ45 index, fell 3.48 points, or 0.58 per cent, to 598.89.
“The IHSG extended its gains, supported by S&P Global Ratings’ confirmation affirming Indonesia’s sovereign credit rating at BBB with a stable outlook,” said Maximilianus Nico Demus, also known as Nico, Associate Director of Research and Investment at Pilarmas Investindo Sekuritas, in his review in Jakarta on Tuesday.
Nico said the stable outlook from S&P Global Ratings reflects expectations that the Indonesian government remains committed to keeping the fiscal deficit below 3 per cent to safeguard fiscal sustainability.
“The stable rating outlook demonstrates how international stakeholders’ confidence in Indonesia’s macroeconomic stability and solid economic growth prospects has been maintained,” Nico said.
Nico continued that confidence in the credibility of fiscal and monetary policy, and the government’s ability to maintain macroeconomic stability amid external challenges, provides a positive signal that the national economy is still considered resilient in the face of global uncertainty.
“The retention of Indonesia’s debt rating at BBB with a stable outlook also shows confidence in the credibility of fiscal and monetary policy,” Nico said.
From overseas, Asian and global markets came under pressure after United States President Donald Trump pledged to reimpose a blockade on Iranian shipments through the Strait of Hormuz.
This led market players to continue monitoring rising tensions in the Middle East, after the US reimposed a blockade on Iranian ports and Trump announced a 20 per cent levy on cargo passing through the Strait of Hormuz, which pushed up oil prices and weighed on global risk sentiment.
In addition, Trump stated plainly that the US would act as the guardian of the Strait of Hormuz.
Opening weaker, the IHSG moved into positive territory until the close of the first trading session. In the second session, the IHSG remained in the green until trading ended.
Based on the IDX-IC Sectoral Index, ten sectors rose, led by the energy sector, which gained 1.66 per cent, followed by the healthcare sector and the non-primary consumer goods sector, which advanced 1.22 per cent and 1.20 per cent respectively.
One sector weakened, namely the financial sector, which fell the deepest at 1.21 per cent.
The stocks with the largest price gains were AGAR, PRDL, SKBM, VERN and ENRG. Meanwhile, the stocks with the largest price declines were JELI, KONI, KIOS, HBAT and COCO.
Share trading frequency was recorded at 2,710,000 transactions, with 28.05 billion shares traded, worth Rp16.53 trillion. A total of 439 stocks rose, 217 declined and 309 were unchanged.
Regional Asian stock markets this afternoon included the Nikkei index up 0.75 per cent to 67,750.00, the Shanghai index up 1.36 per cent to 3,967.13, the Hang Seng index up 0.52 per cent to 24,340.73, and the Straits Times index up 0.43 per cent to 5,493.67.