Indonesia's Stock Exchange (IHSG) Closes Higher Amidst Strengthening Indonesian Economy (Monday, August 7, 2023)

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Cindy Mutia Annur 07/08/2023 19:37 WIB
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Jakarta Composite Index (JCI) July 7 - August 7, 2023
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The Jakarta Composite Index (IHSG) strengthened by 33.52 points or 0.49% to 6,886.366 at the close of trading on Monday (7/8/2023).

Today's index strengthening is in line with the strengthening of Indonesia's economic growth in Q2-2023.

"Today's IHSG movement is influenced by optimism following the release of Indonesia's Q2-2023 Gross Domestic Product (GDP) data, which grew positively by 5.17% year-on-year (yoy) and 3.86% quarter-to-quarter (qtq)," said Jono Syafei, Analyst at Henan Putihrai Sekuritas, as quoted by Antaranews.com, Monday (7/8/2023).

Based on the IDX-IC Sectoral Index, seven stock sectors increased, led by the finance sector by 0.80%, followed by the technology and industrial sectors, which increased by 0.64% and 0.53%, respectively.

Meanwhile, four other stock sectors were corrected, with the health sector falling the most at minus 0.71%, followed by the infrastructure and primary consumer goods sectors, which fell by minus 0.38% and 0.18%, respectively.

Based on RTI Business data, the frequency of stock trading on the domestic exchange today was 1.17 million transactions.

A total of 16.27 billion shares changed hands, with a transaction value of Rp 8.26 trillion.

The issuer with the code RAFI became the top gainer after strengthening by 25%, followed by issuers GTBO and FOLK, which strengthened by 24.72% and 13%, respectively.

On the other hand, today's top loser was RELF, which weakened by 9.73%, followed by NETV and HBAT, which contracted by 9.64% and 9.26%, respectively.

The majority of stocks in today's trading closed higher. Specifically, 276 stocks strengthened, 245 stocks weakened, and 223 stocks were stagnant.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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