Jakarta Market Opens Slightly Higher, 5 Stocks Suspended
Jakarta. Jakarta Composite Index opened at 8,130 on Thursday, adding 1.6 points or 0.01 percent. The gauge moved within a narrow range of 8,123–8,139, with 1.8 billion shares traded at a turnover of Rp 2 trillion across 112,639 transactions.
A total of 268 stocks advanced, 137 declined, and 211 were unchanged, bringing the market capitalization to Rp 14,964.66 trillion.
The Indonesia Stock Exchange (IDX) suspended trading in five stocks starting from the first session on Thursday due to significant cumulative price surges. The affected shares are Graha Layar Prima (BLTZ), Sinergi Multi Lestarindo (SMLE), Pudjiadi Prestige (PUDP), Tanah Laut (INDX), and Jhonlin Agro Raya (JARR).
BLTZ shares jumped 10 percent to Rp 3,300 on Wednesday, soaring 83.33 percent over the past month. SMLE climbed 15.44 percent to Rp 314, up 95.03 percent in a month, while PUDP surged 24.6 percent to Rp 466, marking a 109.91 percent monthly gain. INDX advanced 21.05 percent to Rp 276, rising 181.63 percent in a month, and JARR rallied 25 percent to Rp 4,250, skyrocketing 316.67 percent in the same period.
Alongside the suspensions, the bourse also lifted trading halts on three other stocks: Indonesian Tobacco (ITIC), Geoprima Solusi (GPSO), and Multisarana Intan Eduka (MSIE).
Overseas, Wall Street eased for a second day as the S&P 500 fell 0.3 percent, the Dow Jones Industrial Average dropped 171 points, or 0.4 percent, and the Nasdaq Composite declined 0.4 percent. Despite the pullback, all three indexes remain near record highs set earlier this week, driven by optimism over US rate cuts and easing trade concerns.
In Asia, Japan’s Nikkei opened at 45,600, down 30 points or 0.07 percent. South Korea’s Kospi also slipped 14 points or 0.4 percent to 3,458. Conversely, Hong Kong’s Hang Seng edged up 17 points or 0.07 percent to 26,536, while China’s SSE advanced 32 points or 0.83 percent to 3,853.
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