The IHSG strengthened thanks to the Indonesian consumer confidence index (IKK), which rose to 86.9 in August, 2020 from 86.2. On the external front, Japan's GDP stands at minus 7.9 percent, higher than the forecast of minus 8.1 percent.
Jakarta (ANTARA) - The Jakarta Composite Index (IHSG) closed higher on Tuesday tracking an increase in the consumer confidence index (IKK).

The index of the Indonesian Stock Exchange (BEI) closed 13.88 points higher, or up 0.27 percent, at 5,244.07, while the index of the 45 most liquid stocks fell 2.08 points, or 0.25 percent, to 826.07.

“The IHSG strengthened thanks to the Indonesian consumer confidence index (IKK), which rose to 86.9 in August, 2020 from 86.2. On the external front, Japan's GDP stands at minus 7.9 percent, higher than the forecast of minus 8.1 percent," Binaartha Sekuritas analyst M Nafan Aji Gusta Utama said on Tuesday.

A consumer survey conducted by Bank Indonesia in August, 2020 showed that consumer confidence in the national economy continued to improve, though it remained in the pessimistic zone, or lower than 100. The IKK rose to 86.9 in August from 86.2 in July.

After opening higher in morning trade, the IHSG remained in the positive territory until the close of trade.

On a sectoral basis, shares of six sectors rose, with the property sector recording the highest increase of 1.89 percent, followed by the various industrial sector at 1.38 percent, and the financial sector at 0.66 percent.

Meanwhile, shares of four sectors recorded a correction, with the infrastructure sector falling deeper at minus 1.08 percent, followed by the agricultural sector at minus 0.52 percent, and the mining sector at minus 0.51 percent.

Net foreign purchase by investors touched Rp286.42 billion.

As per trade data, 598,451 transactions were recorded on Tuesday, with 14.65 billion shares, valued at Rp6.3 trillion, changing hands. Gainers were outnumbered by decliners, with 187 shares climbing against 223 shares falling, and 178 shares remaining unchanged.

In regional markets on Tuesday evening, the Nikkei index swelled 184.18 points, or 0.8 percent, to 23,274.13, and the Hang Seng index rose 34.69 points, or 0.14 percent, to 24,624.34. In contrast, the Straits Times index slid 2.87 points, or 0.11 percent, to 2,508.34.

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Translator: Citro Atmoko/Suharto
Editor: Rahmad Nasution
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