Indonesian Stock Market Sees Mixed Movements

IHSG Ends Lower Despite Initial Gains

The Indonesian Composite Index (IHSG) closed lower by 0.20% to 8,372 on Thursday, despite opening with gains ¹

. The decline was marked by a loss of 16.57 points. Foreign investors, however, continued their buying spree with a net buy of Rp 2.91 trillion across all markets.

Foreign Investor Activity

Foreign investors recorded significant transactions in several stocks. They purchased heavily in PT Capital Financial Indonesia (CASA) with Rp 2.7 trillion, PT Merdeka Gold Resources (EMAS) with Rp 605.6 billion, and PT Bumi Resources (BUMI) with Rp 179.8 billion ¹

. Conversely, they sold substantial amounts of PT MNC Energy Investments (IATA) worth Rp 265 billion, PT Barito Pacific (BRPT) worth Rp 150.9 billion, and PT Bank Central Asia (BBCA) worth Rp 110.4 billion.

Sectoral Performance and Notable Stocks

On the LQ45 index, top gainers included PT Bumi Resources (BUMI) with a 16.67% increase, PT Dian Swastatika Sentosa (DSSA) with 1.71%, and PT Merdeka Copper Gold (MDKA) with 1.65% ¹

. On the downside, PT Pertamina Geothermal Energy (PGEO) fell by 2.82%, PT Japfa Comfeed Indonesia (JPFA) by 2.79%, and PT Indosat (ISAT) by 2.78%.

Corporate News and Developments

1. Garuda Indonesia (GIAA): The airline plans to conduct a private placement worth Rp 23.67 trillion, reduced from the initial plan of Rp 30.72 trillion. The execution price is set at Rp 75 per share. The funds will be used for working capital and strengthening Citilink's operations ²
   Source 2

   https://pusatdata.kontan.co.id/news/ihsg-turun-020-pada-kamis-1311-ada-net-buy-asing-jumbo-hari-ini
   .
2. PT Pembangunan Perumahan (PTPP): The state-owned enterprise plans to divest two subsidiaries, Celebes Railway Indonesia (CRI) and PP Infrastruktur (PPI), as part of its financial restructuring strategy. The divestment aims to improve cash flow and focus on core business ²
   Source 2

   https://pusatdata.kontan.co.id/news/ihsg-turun-020-pada-kamis-1311-ada-net-buy-asing-jumbo-hari-ini
   .

Market Outlook

The mixed performance in the Indonesian stock market reflects the complex dynamics between foreign investor activity and individual stock performances. As foreign investors continue to play a significant role, their trading patterns will be closely watched by market participants.