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IDX Composite falls 0.78% as Middle East tensions weigh on market – Markets
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IDX Composite falls 0.78% as Middle East tensions weigh on market – Markets

The Indonesia Stock Exchange Composite Index (IDX) ended Monday’s trading session down 0.78 percent or 60.03 points, closing at 7,634.63. This is a sharp decline since the market opened, weighed down by sectoral losses and persistent geopolitical concerns.

Six sectors moved the composite index into the red zone, with technology plunging 1.48 percent, infrastructure down 1.34 percent, healthcare down 0.86 percent and the financial sector in decrease of 0.85 percent. The energy and primary consumer goods sectors also fell by 0.56 percent and 0.07 percent, respectively.

On the positive side, five sectors managed to post gains. The industrial sector increased by 0.41 percent, while real estate increased by 0.36 percent. Basic materials rose 0.23 percent, non-primary consumer goods rose 0.15 percent, and transportation and logistics rose 0.14 percent.

The main gainers in the LQ45 index were PT Sumber Alfaria Trijaya (AMRT), which rose 2.59 percent, PT Indah Kiat Pulp & Paper (INKP) 1.87 percent and PT Aneka Tambang (ANTM) of 1.58 percent.

Conversely, the biggest losers were PT Semen Indonesia (SMGR), down 5.69 percent, PT Harum Energy (HRUM), down 5.34 percent and PT Indosat (ISAT), down of 4.78 percent.

Trading volume reached 20.73 billion shares, with a total transaction value of 9.59 trillion rupiah ($601.29 million). In total, 365 stocks fell, 203 rose and 227 remained flat.

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Market sentiment remained cautious, exacerbated by rising geopolitical tensions in the Middle East.

Recent Israeli airstrikes on Tehran have increased concerns about a broader conflict, leading investors to take a wait-and-see approach.

Additionally, the IDX is preparing for a major rebalancing of eight critical indexes. These include the bluechip IDX30 and LQ45 indices, from November 1 to January 31.

The rebalancing of the two blue-chip indices could further influence the performance of the composite index in the days to come.