Indonesia's IDX Closed Lower as BI Holds Interest Rate at 6% (Thursday, December 21, 2023)

The Jakarta Composite Index (IHSG) fell 0.14% to 7,209.619 at the close of trading on Tuesday (12/21/2023).

The index weakened amid Bank Indonesia (BI) once again holding its benchmark interest rate, the BI-Rate, at 6%.

"Bank Indonesia's decision to maintain the BI rate at 6% remains consistent with the focus of pro-stability monetary policy, namely to strengthen the stability of the rupiah exchange rate," said BI Governor Perry Warjiyo, as reported by Antara, Thursday (12/21/2023).

In addition, the central bank did not change the deposit facility interest rate of 5.25% and the lending facility interest rate of 6.75%.

Based on the IDX-IC Sectoral Index, eight stock sectors were corrected today. The health sector fell the most, by 1.27%. This was followed by the consumer staples sector and the energy sector, down 0.49% and 0.45%, respectively.

Meanwhile, three sectors increased, led by the property and real estate sector by 0.24%, followed by the transportation and logistics sector and the infrastructure sector, which rose by 0.22% and 0.10%, respectively.

According to RTI Business data, the frequency of stock trading on the domestic exchange today was 1.04 million transactions.

A total of 18.96 billion shares changed hands, with a transaction value of Rp 10.70 trillion.

197 stocks rose, 322 stocks fell, and 245 stocks were stagnant.

KAYU was today's top loser, plunging 24.79%, followed by RAJA and CZCO, which fell 23.24% and 14.69%, respectively.

Meanwhile, today's top gainer was IMJS, which soared 25%, followed by TBMS and IMAS, which rose 24.90% and 24.69%, respectively.

Regional Asian stock exchanges showed varied movement this afternoon. The Nikkei index weakened 1.59% to 33,140.50, the Hang Seng index strengthened 0.04% to 16,621.13, the Shanghai index strengthened 0.57% to 2,918.71, and the Strait Times index strengthened 0.14% to 3,112.50.