Gotrade News - Indonesia's Jakarta Composite Index (IHSG) opened with a strong 1.01% gain at 7,753 on Wednesday (04/15), buoyed by hopes of a US-Iran diplomatic breakthrough. The rally quickly faded as the index reversed to 7,646, falling 0.38% after the rupiah hit a record low of Rp17,138 per US dollar.
Key Takeaways:
- IHSG rallied to 7,773 before reversing on rupiah weakness, with the currency touching Rp17,138 per dollar
- Non-primary consumer (-0.56%) and financial (-0.45%) sectors led the first-session decline
- Large-cap stocks BREN (-4.2%) and BRPT (-3.2%) weighed heaviest on the index
BRI Danareksa Securities identified two catalysts behind the early-session strength. Potential continued US-Iran negotiations and Indonesia's projected 5.5% GDP growth in Q1 2026 lifted investor sentiment at the open.
The optimism proved short-lived as currency pressure mounted. The rupiah weakened to Rp17,138 per US dollar by 10:10 AM local time, according to Bloomberg Technoz data.
The reversal was sharp, with the index sliding from a session high of 7,773. IHSG touched a low of 7,642 during the first trading session.
First-session trading value reached Rp9.41 trillion across 20.79 billion shares. Trading frequency hit 1.32 million transactions, according to Bloomberg Technoz.
The non-primary consumer sector led losses with a 0.56% decline. Financial and energy sectors fell 0.45% and 0.25% respectively.
PT Barito Renewables Energy (BREN) was the biggest drag, tumbling 4.2%. PT Barito Pacific (BRPT) and PT Vktr Teknologi Mobilitas (VKTR) also declined 3.2% and 4% respectively.
Despite the index weakness, advancing stocks still outnumbered decliners at 334 to 294. An additional 182 stocks were unchanged in the first session.
