Indonesia's equity market finished lower on Thursday as selling pressure concentrated in Infrastructure, Financials and Agriculture names pushed the benchmark down.
At the close in Jakarta, the IDX Composite Index fell 0.65%.
Market movers
The session featured a mix of outsized gains among a few stocks and steep losses for others. The top performers on the IDX Composite were Cipta Selera Murni Pt (JK:CSMI), which climbed 34.68% or 43.00 points to finish at 167.00. Leyand International Tbk (JK:LAPD) rose 34.55% or 38.00 points to end at 148.00, and PT Trimuda Nuansa Citra Tbk (JK:TNCA) advanced 31.25% or 60.00 points to close at 252.00.
On the downside, Satria Mega Kencana Tbk PT (JK:SOTS) led the decliners, slipping 14.93% or 400.00 points to 2,280.00 at the close. PT Hillcon Tbk (JK:HILL) fell 14.68% or 16.00 points to end at 93.00, and Lion Metal Works Tbk (JK:LION) dropped 14.62% or 95.00 points to 555.00.
Falling issues outnumbered advancing ones on the Jakarta Stock Exchange by 439 to 285, with 140 shares unchanged at the close.
Notable price action
Shares of PT Hillcon Tbk (JK:HILL) declined to an all-time low during the session, ending down 14.68% at 93.00.
Commodities and FX
Energy and metals markets moved modestly. Crude oil for March delivery rose 0.29% or 0.19 to $64.82 a barrel. Brent oil for April delivery climbed 0.24% or 0.17 to $69.57 a barrel. In metals, the April Gold Futures contract fell 0.33% or 16.70 to trade at $5,081.80 a troy ounce.
Currency pairs involving the rupiah also registered small moves. USD/IDR was up 0.44% at 16,825.50, while AUD/IDR increased 0.13% to 11,968.92. The US Dollar Index Futures was up 0.04% at 96.76.
Outlook context
Thursday's session combined concentrated winners with broad-based weakness. The Infrastructure, Financials and Agriculture sectors were cited as leading the declines. Market breadth favored decliners by a sizable margin, and individual-stock volatility was notable, with multiple names moving more than 30% to the upside and several falling more than 14%.
Given the moves in commodity and FX markets were relatively modest, the session's headline weakness appears tied primarily to equity-specific flows and sector-level pressure reflected in the closing breadth figures.