IDX Freezes Six Stocks as JCI Rallies
Jakarta. The Jakarta Composite Index (JCI) closed higher on Monday, climbing 83 points or 1.06 percent to 7,937. The benchmark index moved within a range of 7,889 to 7,937 throughout the day.
Trading was relatively active, with 36.3 billion shares exchanged in 2.13 million transactions, amounting to a turnover of Rp 16.4 trillion. A total of 470 stocks advanced, 209 declined, while 126 remained unchanged.
On the same day, the Indonesia Stock Exchange (IDX) suspended trading of six issuers across different sectors: hotel and tourism operator Hotel Fitra International (FITT), telecommunications company First Media (KBLV), property developer Pakuan (UANG), consumer staples firm Oscar Mitra Sukses Sejahtera (OLIV), steel manufacturer Lion Metal Works (LION), and healthcare provider Sejahteraraya Anugrahjaya (SRAJ).
The suspension, effective in both the regular and cash markets, will remain in place until further notice. The IDX said the move aims to provide investors sufficient time to carefully assess available information before making decisions, while also urging market participants to pay close attention to company disclosures.
Meanwhile, the exchange lifted the suspension of two stocks: Voksel Electric (VOKS) and Paperocks Indonesia (PPRI), allowing transactions to resume starting from the first session on Monday.
For top gainers, Repower Asia Indonesia (REAL) led with a 34.85 percent jump to Rp89, followed by Maja Agung Latexindo (SURI), which rose 34.82 percent, and Buana Lintas Lautan (BULL), up 34.57 percent. On the other hand, Indo Premier Investment Management (XIIT) plunged 14.96 percent to Rp540, followed by Pinnacle Persada Investama (XPLQ), down 13.45 percent, and Voksel Electric (VOKS), which slipped 11.23 percent.
Asian stocks traded mixed as Wall Street wrapped up last week near record levels. Hong Kong’s Hang Seng Index added 0.1 percent to 26,421.63, while the Shanghai Composite dipped 0.1 percent to 3,866.37. Australia’s S&P/ASX 200 slid 0.2 percent to 8,851.70, while South Korea’s Kospi gained 0.4 percent to 3,408.54. Tokyo markets were closed for a national holiday.
On Wall Street, the S&P 500 slipped less than 0.1 percent on Friday from its record close the day before. The Dow Jones Industrial Average fell 273.78 points, or 0.6 percent, to 45,834.22, while the Nasdaq composite rose 98.03 points, or 0.4 percent, to 22,141.10.
Investors have been riding on expectations that the Federal Reserve will cut interest rates at its policy meeting next week. Analysts caution, however, that markets could retreat if the central bank holds rates steady.
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