IDX Recap: Market Dips 0.64 Pct in Shortened Trading Week
Jakarta. The Indonesia Stock Exchange (IDX) saw a 0.81 percent correction in market capitalization last week, dropping to Rp 11.92 quadrillion ($745 billion) from Rp 12.01 quadrillion the previous week. Trading was limited to just three days, from May 6th to May 8th, 2024, due to national holidays and collective leave. The market will reopen next Monday.
The Composite Stock Price Index experienced a 0.64 percent decline, closing at 7,088.795 compared to 7,134.724 at the end of the previous week.
Foreign investors recorded a net selling value of Rp 1.10 trillion on Wednesday, bringing the year-to-date net buying value for foreign investors to Rp 1.49 trillion in 2024.
The week's highest increase was observed in the average transaction frequency, rising by 3.13 percent to 1.099 million transactions from 1.065 million transactions the previous week.
This was followed by a 2.15 percent rise in the average daily transaction volume for the week to 18.99 billion shares from 18.59 billion shares at the end of the previous week.
However, the average daily transaction value saw a decrease of 20.74 percent, falling to Rp11.851 trillion from Rp14.952 trillion at the end of the previous week.
On Wednesday, internet service provider Remala Abadi (DATA) began listing its shares on the IDX Development Board. Remala is the 23rd company listed on the IDX in 2024. On the same day, construction company Xolare RCR Energy (SOLA) became the 24th company listed on the IDX in 2024.
On Monday, the Central Statistics Agency (BPS) announced that Indonesia's first-quarter economic growth in 2024 reached 5.11 percent year-on-year (yoy), slightly below the Finance Ministry's projection of around 5.17 percent. Compared to the fourth quarter of 2023, Indonesia's economy contracted by 0.83 percent.
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