Industrial, Energy Stocks Cushion JCI’s Mild Decline on Wednesday
Jakarta. Jakarta Composite Index (JCI) closed slightly lower on Wednesday, shedding 3.25 points, or 0.04 percent, to finish at 8,166.03.
Market breadth showed 307 gainers, 425 losers, and 224 unchanged, with a total transaction value of Rp 29.41 trillion.
Gains were recorded in several sectors, led by industrials, which jumped 2.93 percent, followed by energy up 2.74 percent, and transportation rising 1.77 percent. Other advancing sectors included basic materials (+1.49 percent), non-cyclical consumer goods (+0.60 percent), property (+0.44 percent), primary consumer goods (+0.23 percent), and technology (+0.05 percent).
Meanwhile, declines were seen in infrastructure (-0.93 percent), financials (-0.60 percent), and healthcare (-0.50 percent).
Across Asia, markets mostly traded in the red after US stocks broke their eight-day winning streak. Tokyo’s Nikkei 225 slipped 0.5 percent to 47,734.99, retreating from record highs earlier this week following the ruling Liberal Democrats’ selection of Sanae Takaichi as their new leader. Takaichi is expected to push for higher spending and looser credit conditions, potentially slowing the Bank of Japan’s efforts to raise interest rates.
In regional trade, Hong Kong’s Hang Seng fell 1 percent to 26,880.81, while Australia’s S&P/ASX 200 eased 0.1 percent to 8,947.60. Markets in mainland China and South Korea were closed for holidays, and Taiwan’s Taiex slipped 0.5 percent.
Overnight, US stocks also ended lower, with the S&P 500 down 0.4 percent to 6,714.59, the Dow Jones Industrial Average off 0.2 percent to 46,602.98, and the Nasdaq Composite losing 0.7 percent to 22,788.36.
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