Indonesia's Stock Exchange (IHSG) Closes Sharply Lower Amidst the Israel-Hamas War (Monday, October 16, 2023)
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The Jakarta Composite Index (IHSG) closed down 30.48 points or 0.44% to 6,896.292 on Monday (16/10/2023). The weakening of the stock index today is partly due to the Israel-Hamas war, which risks pushing the global economy into recession.
“The escalation of the war and rising oil prices are putting pressure on the market today,” said the Research Team of Pilarmas Investindo Sekuritas, as reported by Antara, Monday (16/10/2023).
Based on the IDX-IC Sectoral Index, eight sectors declined, led by the property sector, which fell by 1.52%, followed by the transportation & logistics sector and the non-primary consumer goods sector, which fell by 1.01% and 0.97%, respectively.
Meanwhile, three sectors increased, led by the infrastructure sector by 2.94%, followed by the energy and health sectors, which rose by 0.28% and 0.18%, respectively.
According to RTI Business data, the frequency of stock trades on the domestic exchange today was 1.42 million transactions.
A total of 40.52 billion shares changed hands, with a transaction value of Rp 10.46 trillion.
The issuer with the code KOKA was the top loser today after weakening by 25.69%, followed by STRK and CUAN, which contracted by 25% and 13.62%, respectively.
On the other hand, the top gainer today was PCAR, which strengthened by 34.43%, followed by JAWA and CITY, which strengthened by 24.44% and 24%, respectively.
The majority of stocks closed lower today. Specifically, 376 stocks weakened, 204 stocks were stagnant, and 183 stocks strengthened.
Regional Asian stock exchanges this afternoon include: the Nikkei index, which weakened by 657 points or 2.03% to 31,659.00; the Hang Seng index, which weakened by 173.09 points or 0.97% to 17,640.359; the Shanghai index, which weakened by 14.29 points or 0.46% to 3,073.810; and the Straits Times index, which weakened by 21.9 points or 0.69% to 3,163.890.
"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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