Jakarta Stocks Rise on Retail Sales Growth, Bank Liquidity Boost
Jakarta. The Jakarta Composite Index (JCI) ended Thursday’s session in positive territory, closing at 7,747 or up 0.64 percent, as upbeat retail sales data and the government’s planned Rp 200 trillion liquidity injection into banks lifted investor sentiment.
The benchmark moved within the 7,742–7,819 range, with a trading volume of 32.68 billion shares, turnover of Rp 18.05 trillion, and 1.96 million transactions. A total of 408 stocks advanced, 263 declined, and 135 were unchanged.
Gains were led by several stocks surging more than 24 percent, with three hitting the upper limit of the auto rejection (ARA) circuit breaker. M Cash Integrasi (MCAS) soared 25 percent to Rp 975, Pakuan (UANG) jumped 24.91 percent to Rp 1,655, and Voksel Electric (VOKS) climbed 24.67 percent to Rp 374.
Other top performers included Telefast Indonesia (TFAS), which rallied 33.33 percent to Rp 196, and Sentral Mitra Informatika (LUCK), which gained 28.75 percent to Rp 103.
On the flip side, five stocks tumbled into the top losers list. Indokripto Koin Semesta (COIN) led the declines with a 12 percent drop to Rp 2,200. Abadi Nusantara Hijau Investama (PACK) slid 9.28 percent to Rp 2,150, Isra Presisi Indonesia (ISAP) fell 9.09 percent to Rp 30, Citra Borneo Utama (CBUT) sank 7.86 percent to Rp 1,700, and Geoprima Solusi (GPSO) lost 7.75 percent to Rp 262.
Pilarmas Sekuritas said positive domestic catalysts supported Thursday’s rally. Indonesia’s Real Sales Index (IPR) grew 4.7 percent year-on-year in July, a sharp acceleration from 1.3 percent growth in June, reflecting stronger retail demand. In addition, the government, through the Finance Ministry, is set to inject Rp 200 trillion into the banking sector to bolster liquidity.
“With fresh funds injected into banks, this will support credit distribution and accelerate economic activity,” Pilarmas said in its research note.
Across Asia, markets were mixed on Thursday, lifted mainly by technology shares after Wall Street posted fresh records, supported by an upbeat US inflation report and robust growth forecasts from Oracle on AI-related demand.
Japan’s Nikkei 225 advanced 1.2 percent to 44,372.50, boosted by an 8.3 percent rally in SoftBank Group for a second consecutive day. Data showed Japan’s producer prices rose 2.7 percent year-on-year in August, matching expectations.
In China, the Shanghai Composite gained 1.7 percent to 3,875.31, with semiconductor stocks leading the charge, while Hong Kong’s Hang Seng slipped 0.3 percent to 26,127.77. South Korea’s Kospi rose 0.9 percent, Taiwan’s Taiex inched up 0.1 percent, and India’s Sensex added less than 0.2 percent. Meanwhile, Australia’s S&P/ASX 200 lost 0.3 percent.
“Asia’s Thursday tape was the kind of market that looks lively from a distance but flat when you press your nose against the glass,” Stephen Innes of SPI Asset Management noted, adding that momentum from Wall Street was unevenly carried across the region.
On Wall Street, the S&P 500 gained 0.3 percent to set another record high, while the Nasdaq barely edged higher. The Dow Jones Industrial Average, however, retreated 0.5 percent or 220 points after its previous record-breaking run.
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