Indonesia's lower-than-expected balance of trade in February (2021), recorded at US$2.01 billion, caused the IHSG to remain in the red.
Jakarta (ANTARA) - The Jakarta Composite Index (IHSG) ended slightly lower on Tuesday, bucking the trend in regional stock markets, as lower-than-expected trade data weighed on sentiment.

The index of the Indonesian Stock Exchange (BEI) shed 14.56 points, or 0.23 percent, to reach 6,309.7, while the index of the 45 most liquid stocks (LQ45) rose 0.02 points, to touch 943.11.

"Indonesia's lower-than-expected balance of trade in February (2021), recorded at US$2.01 billion, caused the IHSG to remain in the red," Bina Artha Sekuritas analyst Nafan Aji said in Jakarta on Tuesday.

On the other hand, the lack of domestic macroeconomic data which could lend a positive impact also added to the weakening of IHSG, he noted.

The market is currently awaiting the decisions of the Fed and Bank Indonesia on the benchmark rate, he informed.

Related news: IHSG ends lower over rise in US bond yields

"The announcement of the US retail sales and the US core retail sales, which are predicted to weaken, has also added to the negative sentiment for the index," he said.

Shortly after opening higher, the IHSG fluctuated in the first trading session and spent much of the second session in the red until the close of trade.

Based on the IDX-IC Sectoral Index, stocks in seven sectors rose, led by the technology sector, which climbed by 1.68 percent, followed by the non-primary consumer goods sector and the transportation and logistics sector, which rose by 0.72 percent and 0.69 percent, respectively.

Meanwhile, stocks in four sectors recorded a correction, with the raw material sector deepening its slide by minus 1.68 percent, followed by the energy sector and the financial sector, which declined by 0.72 percent and 0.69 percent, respectively.

Tuesday's trade posted net foreign sales of Rp257.22 billion.

A total of 1,253,456 transactions were recorded during the day, with 18.82 billion shares, worth Rp11.16 trillion, changing hands. Meanwhile, 191 shares rose, 293 shares fell, and 154 shares remained unchanged.

In the Asian regional markets, the Nikkei Index added 154.12 points, or 0.52 percent, to reach 29,921.09; the Hang Seng Index swelled 193.93 points, or 0.67 percent, to touch 29,027.69; while, the Straits Times Index rose 3.45 points, or 0.11 percent, to 3,102.29.

Related news: IHSG ends higher on easing concerns over rising yields on US bonds

Translator: Citro Atmoko/Suharto
Editor: Rahmad Nasution
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