Indonesia's IDX Composite Hits New All-Time High

Index Reaches Record Peak

The Jakarta Composite Index (IDX) closed at a new all-time high on Thursday, finishing the session with a 0.35% gain. This upward movement signals positive investor sentiment in the Indonesian market.

Sector-Driven Growth

The rally was primarily led by strong performances in the Financials, Agriculture, and Basic Industry sectors. Despite the index's record close, market breadth indicated caution, with 363 stocks declining compared to 356 advancing stocks, and 123 remaining unchanged.

Notable Stock Movements

Among the top performers, Ever Shine Textile Industry (ESTI) surged by 34.75%. Inocycle Technology Tbk PT (INOV) and Trisula Textile Industries Tbk PT (BELL) also posted significant increases, rising 34.56% and 34.15% respectively, with both stocks reaching 52-week highs.

Summary and Outlook

The record close for the IDX Composite highlights a bullish trend, although the narrow market breadth suggests investors are being selective. The performance of key sectors will be a critical factor to monitor in upcoming trading sessions.

FAQ

Q: Which Indonesian stock index hit a new high?
A: The IDX Composite Index reached a new all-time high.

Q: What was the percentage gain at the close?
A: The index rose by 0.35%.

Q: Which sectors were the main drivers?
A: The Financials, Agriculture, and Basic Industry sectors were the primary drivers of the gains.

Source: Investing.com