The Composite Stock Price Index (IHSG) of the Indonesia Stock Exchange (IDX) closed down on Thursday (25/7) afternoon following the weakening of Asian and global stock exchanges. IHSG closed down 22.47 points or 0.31% to 7,240.27.
Meanwhile, the group of 45 leading stocks or the LQ45 index fell 1.01 points or 0.11% to 916.15. “The latest release of United States (US) economic data shows that the manufacturing sector is again experiencing contraction and new home sales unexpectedly recorded a decline,” said the Pilarmas Investindo Sekuritas Research Team in its study in Jakarta.
From abroad, the initial calculation (flash) of the US S&P Global Composite PMI data rose to 55.0 in July 2024 or the highest since April 2022 from 54.8 in June 2024. This is an indication of sustainable growth over the past 18 months.
The flash US S&P Global Manufacturing PMI unexpectedly fell to 49.5 in July, the lowest this year. This was down from 51.6 in June and below market expectations of 51.7. Then, the flash US S&P Global Services PMI jumped to 56.0 in July, the highest in 28 months, from 55.3 in June and above market expectations of 55.0.
New Home Sales data showed that the number of new home sales in the US fell 0.6% month-on-month (MTM) in June 2024 to 617,000 units, the lowest in seven months and well below the market forecast of 640,000 units. High selling prices and mortgage rates continue to suppress buying interest.
Opening lower, IHSG was comfortable in negative territory until the close of the first session of stock trading. In the second session, IHSG was still comfortable in the red zone until the close of stock trading.
Also read: IHSG Closes Lower, Pressured by Six Sectors
Based on the IDX-IC Sectoral Index, one sector strengthened led by health which rose by 0.54% followed by infrastructure and primary consumer goods at 0.18% and 0.25% respectively. Ten sectors fell, namely transportation & logistics the deepest at minus 1.72% followed by raw materials and property at 1.70% and 1.64% respectively.
The stocks that experienced the biggest gains were FUJI, CEKA, MSJA, HELI, and KOKA. While the stocks that experienced the biggest declines were NASI, ISEA, ITMA, UNVR, and BSBK.
The frequency of stock trading was recorded at 1,049,975 transactions. The shares traded were 16.42 billion shares worth Rp7.37 trillion. The price of 233 shares rose, 323 shares fell, and 237 did not move.
The regional Asian stock exchanges this afternoon included the Nikkei index down 1,285.39 points or 3.28% to 37,869.50; the Hang Seng index down 306.08 points or 1.77 percent to 17,004.97; the Shanghai index down 15.20 points or 0.52% to 2,886.73; and the Strait Times index up 30.48 points or 0.88% to 3,430.33. (Ant/Z-2)
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