The Jakarta Composite Index (IHSG) endured a challenging trading day on Monday, March 9, remaining firmly in negative territory throughout the session. The benchmark index ultimately closed down a significant 248.318 points, or 3.27%, settling at 7,337.369. This pronounced decline was mirrored by the LQ45 Index, which also saw a substantial drop of 25.471 points, or 3.28%, finishing the day at 750.575.
Reflecting the widespread bearish sentiment, market breadth was overwhelmingly negative. A staggering 708 stocks recorded losses, while only 68 managed to advance, and 41 remained unchanged. Trading activity remained robust despite the downturn, with a total of 2,469,344 transactions executed. This volume accounted for 46.601 billion shares changing hands, valuing the day’s total trade at a substantial Rp 23.741 trillion.
Among the day’s worst performers, several prominent stocks experienced significant plunges. Buana Lintas Lautan (BULL) led the decline, shedding 64 points, or 14.41%, to close at 380. Following closely was Perusahaan Gas Negara (PGAS), which saw its value drop by 320 points, or 13.50%, to 2,050. Other notable laggards included GTS Internasional (GTSI), down 26 points (10.00%) to 234; Triniti Dinamik (TRUE), which fell 17 points (9.88%) to 155; and Sentul City, losing 11 points (9.40%) to finish at 106.
Further exacerbating the market’s woes, the Indonesian rupiah also weakened against the US dollar. According to Bloomberg data, the rupiah depreciated by 24.00 points, or 0.14%, closing the day at Rp 16,949 per US dollar. This slight but notable weakening added to the overall cautious sentiment pervading the financial markets.
The challenging conditions extended beyond Indonesia, as major Asian stock markets also closed in negative territory on Monday afternoon. Japan’s Nikkei 225 suffered a substantial blow, tumbling 2,892.101 points (5.20%) to 52,728.699. Hong Kong’s Hang Seng Index also recorded a decline, shedding 348.828 points (1.35%) to 25,408.460. Meanwhile, the SSE Composite Index in China dipped by 27.589 points (0.67%) to 4,096.600, and Singapore’s Straits Times Index fell 95.350 points (1.97%) to 4,752.899. These widespread drops underscored a broader regional market unease.
Summary
The Jakarta Composite Index (IHSG) closed Monday, March 9, with a significant decline of 3.27%, or 248.318 points, settling at 7,337.369. This sharp downturn was mirrored by the LQ45 Index, which also dropped substantially by 3.28%. Market breadth was overwhelmingly negative, with 708 stocks recording losses against only 68 advancements, despite robust trading activity.
In addition to the stock market’s woes, the Indonesian rupiah weakened against the US dollar, depreciating by 0.14% to close at Rp 16,949 per US dollar according to Bloomberg data. This local market unease was part of a broader trend, as major Asian stock markets, including Japan’s Nikkei 225, Hong Kong’s Hang Seng, and Singapore’s Straits Times Index, also closed in negative territory.