Purbaya confident that IHSG can still break through 10,000 this year

Jakarta (ANTARA) - Finance Minister Purbaya Yudhi Sadewa is optimistic that the Composite Stock Price Index (IHSG) of the Indonesia Stock Exchange (BEI) can still break through the 10,000 level this year, despite its current weakening performance.

According to Purbaya, the current volatility in the IHSG is caused by negative global economic sentiment.

The Finance Minister explained to reporters in Jakarta on Friday that the IHSG’s performance will improve in line with the strengthening of national economic fundamentals.

Therefore, the current focus is more on efforts to maintain economic performance rather than the IHSG.

For the record, the IHSG closed weaker on Friday afternoon by 249.12 points or 3.38 percent to 7,129.49. Meanwhile, the LQ45 index of 45 leading stocks fell 25.12 points or 3.51 percent to 690.76.

Opening weaker, the IHSG remained in negative territory until the close of the first trading session. In the second session, the IHSG stayed in the red zone heading into the close of stock trading.

Based on the IDX-IC Sectoral Index, all eleven sectors weakened, with the non-primary consumer goods sector experiencing the deepest decline of minus 4.14 percent, followed by the infrastructure sector and the energy goods sector, which fell by 4.03 percent and 3.82 percent respectively.