Indonesia's IDX Strengthens Amidst Weakness in Asian and Global Markets (Thursday, February 23, 2023)

The Jakarta Composite Index (JCI) strengthened by 29.48 points or 0.43% to 6,839.45 at the close of trading on Thursday, February 23, 2023. This strengthening occurred amidst a weakening of Asian and global markets.

"The JCI was able to rebound into positive territory after falling in the first session. The JCI responded quite well to the decline in the majority of global indices," said the Pilarmas Investindo Sekuritas Research Team, as quoted by Antara, Thursday (23/2/2023).

According to the Pilarmas Research Team, market players and investors are digesting the results of the US Federal Reserve (The Fed) meeting, where almost all committee members agreed to raise the benchmark interest rate by 25 basis points (bps), as a step to pursue the target of lowering US inflation to 2%.

On the other hand, the Pilarmas Research Team continued, the Asian market also moved variably, with one of the sentiments contributed by the Bank of Korea maintaining its benchmark interest rate at 3.5%.

At the same time, the prices of oil, coal, and gold commodities experienced strengthening. The market is also awaiting the release of US economic growth, which is predicted to decline, as well as Japan's inflation rate, which is also expected to rise.

Based on data from the Indonesia Stock Exchange (IDX), the frequency of today's stock trading was 943,470 transactions.

A total of 14.18 billion shares changed hands, with a transaction value of Rp 9.9 trillion.

The issuer with the code FMII became the top gainer with a strengthening of 20.39%. Followed by DRMA and ASPI which strengthened by 15.2% and 12.61% respectively.

Meanwhile, today's top loser was RCCC, which contracted by 9.56%, followed by MEDS and GTBO which weakened by 6.99% and 6.94% respectively.

Although the stock index strengthened, the majority of stocks today closed stagnant. The details are 308 stocks stagnant, 284 stocks weakened, and 254 stocks strengthened.