Jakarta, CNBC Indonesia – Indeks Harga Saham Gabungan (IHSG) closed higher on Monday (11/25/2024), amidst various domestic and global data releases and agendas for the week.
IHSG closed up 1.65% at 7,314.11. IHSG managed to return to the psychological level of 7,300, after moving in the psychological range of 7,100-7,200 in recent days.
The index transaction value today reached around Rp 17.8 trillion, involving 35.2 billion shares changing hands 1.2 million times. 299 stocks strengthened, 291 stocks weakened, and 200 stocks remained unchanged.
By sector, the financial sector was the biggest supporter of IHSG today, reaching 1.49%. In addition to finance, the industrial and energy sectors also supported IHSG by more than 1%, specifically 1.28% and 1.11% respectively.
Aligned with the above sectors, several stocks also supported IHSG, with the majority being giant banking stocks such as PT Bank Mandiri (Persero) Tbk (BMRI) reaching 31.8 index points, PT Bank Central Asia Tbk (BBCA) at 23.2 index points, and PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) at 13.2 index points.
In addition, there are also two conglomerate issuers owned by Prajogo Pangestu, namely PT Chandra Asri Pacific Tbk (TPIA) and PT Barito Renewables Energy Tbk (BREN) which also supported IHSG by 23.5 and 8.7 index points respectively.
IHSG soared amidst the lack of global market sentiment today. However, this week, there are many market sentiments ranging from the simultaneous Regional Head Elections (Pilkada) 2024 to be held next Wednesday, the Annual Meeting of Bank Indonesia (PTBI), to the release of personal inflation data in the United States.
Domestically, the sentiments of Pilkada Serentak 2024 and PTBI will be the focus of the market this week.
For the simultaneous Regional Head Elections 2024, it will be held in 545 regions with details of 37 provinces, 415 regencies, and 93 cities in Indonesia. This first simultaneous Regional Head Elections in history will be a competition between political parties and candidates.
The developments in the simultaneous Regional Head Elections are important as they will be a barometer of the strength of the Indonesian Democratic Party of Struggle (PDIP) and the Coalition of Indonesia Maju (KIM) Plus in several regions.
Two days after the Simultaneous Regional Head Elections 2024, on Friday, the PTBI will be held, which is the pinnacle of the high-level event (HLE) of Bank Indonesia (BI) which has been held regularly since 1969.
The main agenda of PTBI is the presentation of BI’s views on the national economic conditions, challenges faced, and the future policy directions of Bank Indonesia, as well as the delivery of the President of Indonesia’s directions on future government policies.
These views and directions are eagerly awaited by stakeholders and will be a reference, especially for industry players, investors, and business circles in determining various future policies and business decisions.
From a global perspective, especially in the US, there are two sentiments that will affect the movement of global financial markets, namely the release of personal consumption expenditure (PCE) inflation data and FOMC minutes.
Next Wednesday, the PCE inflation in the US for October 2024 will be released.
