JCI Had Fallen 4.42 Percent After The Economy In The Second Quarter Of 2024 Down, Airlangga: No Need To Worry

Coordinating Minister for the Economy Airlangga Hartarto (Photo: Antara)

JAKARTA - The Composite Stock Price Index (JCI) fell after the Central Statistics Agency (BPS) reported that economic growth in the second quarter of 2024 reached 5.05 percent year on year (yoy) or slowed down when compared to the previous quarter which reached 5.11 percent (yoy). Meanwhile, economic growth in Semester I-2024 reached 5.08 percent.

Citing Motion Trade, the JCI closed down 3.42 percent or 249.8 points to the level of 7,058.33. There were 618 shares down, 51 stocks up, and 116 stocks stagnant.

In its movement, the JCI touched the lowest level at 6,998.81 or fell 4.42 percent. The highest level today is at 7,257.48.

Meanwhile, the total volume of stock trading on the IDX as of now is 21.87 billion with a transaction value of IDR 11.95 trillion.

Coordinating Minister for Economic Affairs Airlangga Hartarto said the decline in the JCI today was due to fluctuations so there was no need to worry.

"We'll see if the JCI fluctuates, so we don't have to worry," he told the media crew, Monday, August 5.

For information, the Central Statistics Agency (BPS) reported economic growth in the second quarter of 2024 of 5.05 percent year on year (yoy), or a decrease when compared to growth in the first quarter of 2024 of 5.11 percent (yoy).

Deputy for Balance and Statistics Analysis Moh. Edy Mahmud said that on the basis of the applicable price of Rp5,536.5 trillion and on the basis of a cash price of Rp3,231.0 trillion, Indonesia's economic growth in the second quarter of 2024 when compared to the second quarter of 2023 or year on year grew by 5.05 percent.

"Indonesia's economic growth in the second quarter of 2024 when compared to the second quarter of 2023 or (YoY) grew 5.05 percent. When compared to the first quarter of 2024 or quarterly to quarteral (qtq) grew 3.79 percent," he explained in a press conference, Monday, August 5.

Edy said that almost all business fields grew positively, namely the food and beverage industry, the basic metal industry, the chemical industry, pharmaceuticals, and traditional medicines. Then, the construction sector grew along with the development of government infrastructure projects.

"Resisted by domestic economic activity that remains strong, Indonesia's economy grew steadily by 5.08 percent in the first semester of 2024 (ctc)," he said.