IHSG ends higher following correction in regional stocks

IHSG ends higher following correction in regional stocks

The movement of share trade at the Indonesia Stock Exchange in Jakarta on Friday (Oct 23, 2020) ANTARA FOTO/Hafidz Mubarak A/wsj.

The market also praised the government's statement on Indonesia’s economic recovery. In addition, euphoria was high over the performance of third-quarter gross domestic product of advanced countries, such as the US, France, and Germany
Jakarta (ANTARA) - The Jakarta Composite Index (IHSG) ended higher on Monday, as Asian regional stock exchanges recorded a correction.

The index of the Indonesian Stock Exchange (BEI) closed 31.86 points higher, or up 0.62 percent, at 5,144.05, while the index of the 45 most liquid stocks (LQ45) rose 4.4 points, or 0.56 percent, to touch 794.21.

The market lauded the performance of issuers' third-quarter financial statements, most of which recorded sustainable growth amidst global uncertainty, Bina Artha Sekuritas analyst M. Nafan Aji Gusta stated.

"The market also praised the government's statement on Indonesia’s economic recovery. In addition, euphoria was high over the performance of third-quarter gross domestic product of advanced countries, such as the US, France, and Germany, as well as the European Union, which showed signs of expansion due to positive results of the countries' economic recovery," he remarked.

After opening higher, the IHSG remained in the green zone until the close of trade.

Stocks in three sectors witnessed a correction, with the consumer sector recording the deepest plunge by 0.78 percent, followed by the mining sector and the manufacturing sector declining 0.62 percent and 0.3 percent, respectively.

Meanwhile, stocks in seven sectors rose, led by the property sector, which jumped 3.1 percent, followed by the agricultural sector and the financial sector that climbed by 2.1 percent and 1.3 percent, respectively.

Friday’s trade posted net foreign purchase of Rp127.99 billion.

A total of 673,694 transactions were recorded on Monday, with 12.2 billion shares, worth Rp7.13 trillion, changing hands. Meanwhile, 225 shares rose, 188 shares fell, and 170 shares remained unchanged.

In the Asian regional markets, the Nikkei index fell 22.25 points, or 0.09 percent, to 23,494.34; the Shanghai Index plunged 26.88 points, or 0.82 percent, to 3,251.12; and the Straits Times Index dropped 12.94 points, or 0.51 percent to 2,524.45. (INE)

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