Stock Track | Agora Inc. Plunges 5.49% in Pre-market as Textile Industry Crisis Looms

Stock Track

Dec 23, 2024

Agora Inc.'s stock experienced a significant 5.49% drop in the pre-market trading session on Monday. This plunge is expected to be closely linked to the broader challenges facing the textile industry in Indonesia.

According to reports, around 60 textile companies are facing dire circumstances, including factory closures, layoffs, and temporary suspensions of operations. The primary factor contributing to this crisis is the implementation of Trade Ministry Regulation No. 8/2024, which has reportedly eased the import of finished textile products into the country.

The Indonesian Textile Association (API) and the Indonesian Filament Yarn and Fiber Producers Association (APSyFI) have raised concerns about the detrimental impact of this regulation on the domestic textile industry. Vice Minister of Manpower Immanuel Ebenezer acknowledged receiving complaints from industry players and labor unions, highlighting the need for a revision of the controversial regulation.

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Vice Minister of Manpower Immanuel Ebenezer acknowledged receiving complaints from industry players and labor unions, highlighting the need for a revision of the controversial regulation.</p>","source":"ai_movement_en","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock Track | Agora Inc. 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Plunges 5.49% in Pre-market as Textile Industry Crisis Looms\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086803395\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock Track </p>\n<p class=\"h-time\">2024-12-23 22:26</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Agora Inc.'s stock experienced a significant 5.49% drop in the pre-market trading session on Monday. This plunge is expected to be closely linked to the broader challenges facing the textile industry in Indonesia.</p>\n\n<p>According to reports, around 60 textile companies are facing dire circumstances, including factory closures, layoffs, and temporary suspensions of operations. The primary factor contributing to this crisis is the implementation of Trade Ministry Regulation No. 8/2024, which has reportedly eased the import of finished textile products into the country.</p>\n\n<p>The Indonesian Textile Association (API) and the Indonesian Filament Yarn and Fiber Producers Association (APSyFI) have raised concerns about the detrimental impact of this regulation on the domestic textile industry. Vice Minister of Manpower Immanuel Ebenezer acknowledged receiving complaints from industry players and labor unions, highlighting the need for a revision of the controversial regulation.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"API","symbol_name":"声网","start_time":0,"source_url":"","article_id":"1131763362","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1131763362","pubTimestamp":1734963979,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Agora Inc.'s stock experienced a significant 5.49% drop in the pre-market trading session on Monday. 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