Post-Eid Holiday, IHSG Strengthens (Wednesday, April 26, 2023)

The 2023 Eid al-Fitr holiday ended on Tuesday (25/4/2023). On the first trading day after the long holiday, the Jakarta Composite Index (IHSG) closed up 1.29% to 6,910.15 on Wednesday (26/4/2023).

Today's IHSG strengthening contrasts with the majority of weakening regional stock exchanges.

In the Asian region, the Nikkei index weakened 0.71% to 28,416.50, the Hang Seng index strengthened 0.71% to 19,757.27, the Shanghai index weakened 0.02% to 3,264.10, and the Straits Times index weakened 0.08% to 3,293.91.

"The IHSG strengthened, while the majority of Asian regional exchanges corrected in the red zone, as market players or investors responded to news about the First Republic Bank of the United States (US), where First Republic Bank customers withdrew more than USD 100 billion from their accounts in the first three months of this year," said the research team of Pilarmas Investindo Sekuritas, as quoted from Antara, Wednesday (26/4/2023).

According to the research team of Pilarmas Investindo Sekuritas, the First Republic Bank issue has made market players worried about the health of the global banking system.

On the other hand, the IHSG strengthened, supported by a number of positive catalysts, such as Bank Indonesia's (BI) policy of maintaining the benchmark interest rate at 5.75%.

BI also reported that banking credit in March 2023 grew 9.93% (year-on-year/yoy), reflecting the banking intermediation function which is still experiencing a positive trend in maintaining the momentum of economic recovery.

According to RTI Business data, the frequency of domestic stock trading today reached 1.45 million transactions.

A total of 13.96 billion shares changed hands, with a total transaction value of Rp 15.43 trillion.

HILL, with a strengthening of 24.56%, was the top gainer. This was followed by ELIT and TRJA, which strengthened by 17.83% and 13.82% respectively.

Today's top loser was MENN, which contracted 9.86%, followed by NCKL and FILM, which weakened by 6.92% and 6.9% respectively.

The majority of stocks closed higher today. The details are 325 stocks strengthened, 210 stocks weakened, and 201 stocks were stagnant.