Jakarta Stocks End Lower as Profit-Taking Hits Mining Shares
Jakarta. The Jakarta Composite Index (JCI) closed lower on Monday, slipping 11.08 points or 0.14 percent to 8,040.4 after moving in a narrow range between 8,005 and 8,087.
Trading activity was relatively robust, with 38.6 billion shares changing hands at a value of Rp 22.4 trillion across 2.4 million transactions, RTI data showed. Market breadth was mixed, as 371 stocks advanced, 297 declined, and 132 remained flat.
Several sector leaders stood out among the day’s top gainers. Coal mining contractor Darma Henwa (DEWA) rallied 11.21 percent, lifted by renewed investor appetite for energy-related plays. Investment holding company Chandra Daya Investasi (CDIA) soared 15.16 percent, reflecting heightened momentum in the financial sector. Tobacco producer Hanjaya Mandala Sampoerna (HMSP), part of Philip Morris International, surged 22.14 percent, making it one of the strongest movers in consumer goods. Meanwhile, offshore shipping services firm Logindo Samudramakmur (LEAD) climbed 10 percent, riding optimism in the transportation and logistics industry.
On the other hand, profit-taking weighed on several resource-linked counters. Bumi Resources Minerals (BRMS), active in base metals and gold mining, fell 6.15 percent. Ancora Indonesia Resources (OKAS), a diversified resources company with interests in explosives and energy services, dropped 8.72 percent. Amman Mineral International (AMMN), a leading copper and gold producer, tumbled 8.14 percent. Kapuas Prima Coal (ZINC), engaged in base metals and coal mining, slid 10 percent. The losses underscored investor caution across the metals and mining sector after last week’s gains.
Across the region, most Asian shares traded higher, buoyed by Wall Street’s record-setting finish last week. Japan’s Nikkei 225 rose 1.0 percent to 45,515.33 after easing concerns over the Bank of Japan’s planned bond sales. Australia’s S&P/ASX 200 added 0.4 percent, South Korea’s Kospi advanced 0.6 percent, while Hong Kong’s Hang Seng slipped 1.0 percent and China’s Shanghai Composite edged down less than 0.1 percent.
On Wall Street, the S&P 500 rose 0.5 percent to secure its sixth winning week in the past seven, while the Dow Jones Industrial Average gained 0.4 percent and the Nasdaq composite added 0.7 percent. All three indexes set fresh all-time highs for a second straight day. The rally was fueled by expectations of further US Federal Reserve interest rate cuts, though analysts warned that disappointment could follow if the Fed does not ease policy as aggressively as traders anticipate.
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