Stable economic fundamentals contribute to IHSG’s 1.02 percent gain

Jakarta A stable domestic economy despite the global economy headed for a serious downturn pushed up the composite share price index (IHSG) at the Indonesia Stock Exchange (IDX) on Tuesday evening.

The IHSG gained 63.66 points, or 1.02 percent, to 6,278.17. The index of the 45 most liquid stocks, or LQ45, rose 11.77 points, or 1.22 percent, to 979.66.

Investors lauded the domestic macroeconomic fundamentals that remains stable amid global uncertainty, Binaartha Sekuritas analyst M. Nafan Aji Gusta Utama stated in Jakarta on Tuesday,

“On the other hand, investors believe both the United States and China still have a broad opportunity to resume trade negotiations, although they are still involved in a trade war,” he stated.

After opening higher in morning trade, the IHSG stayed in the green zone all through the day until closing.

The composite index closed, with foreign investors selling shares as indicated by net foreign sale of Rp171.26 billion. Trade on Tuesday was recorded, with 482,553 transactions and 16.42 billion shares valued at Rp10.66 trillion changing hands. A total of 220 saw gains as against 195 booking losses, and 137 shares unchanged.

Asian regional markets that strengthened, Tuesday evening, comprised Nikkei, rising 195.04 points, or 0.96 percent, to 20,456.08; though the Hang Seng weakened 16.26 points, or 0.06 percent, to 25,664.07, and the Straits Times Index fell 3.47 points, or 0.11 percent, to 3,061.86.

Source: Antara News