Indonesia's Stock Exchange (IHSG) Weakens Following Release of Indonesian Economic Growth Data (Friday, May 5, 2023)
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The Jakarta Composite Index (IHSG) fell 56.39 points, or 0.82%, to close at 6,787.63 on Friday, May 5, 2023.
This decline followed the release of Indonesia's economic data by the Central Bureau of Statistics (BPS), showing positive year-on-year (yoy) growth of 5.03% in Q1 2023.
However, on a quarter-on-quarter (qoq) basis, the Indonesian economy contracted by 0.92%.
"The market seems to be focusing on the quarterly economic growth in Q1 2023, which experienced a seasonal contraction due to the normalization of increased consumption at the end of the year," said the Research Team of Pilarmas Investindo Sekuritas, as quoted by Antara on Friday (5/5/2023).
Based on RTI Business data, the frequency of stock trades on the domestic exchange today totaled 1.14 million transactions.
A total of 16.15 billion shares changed hands, with a transaction value of Rp 10.05 trillion.
ISAP was the top loser, weakening by 9.76%, followed by KING and NCKL, which contracted by 8.76% and 6.96%, respectively.
Today's top gainers were TNCA, which strengthened by 24.56%, followed by DNAR and ENRG, which strengthened by 17.05% and 11.11%, respectively.
The majority of stocks closed lower today. Specifically, 374 stocks weakened, 197 stocks were stagnant, and 151 stocks strengthened.
"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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