Indonesia's IDX Closed Lower, Pressured by US Debt Ceiling Deal Sentiment (Thursday, May 25, 2023)
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The Jakarta Composite Index (IHSG) fell 41.57 points, or 0.62%, to close at 6,704.231 on Thursday (25/5/2023).
The weakening of the stock index today is in line with the lack of agreement in the US debt ceiling negotiations.
"The dominant sentiment is still related to the risk of a US government debt default ahead of the June 1 deadline, following the deadlock in negotiations between the US government and the US Congress," said Nicodimus Kristiantoro, Research & Consulting Manager of Infovesta Kapital Advisori, as quoted by Antara, Thursday (25/5/2023).
Domestically, Nicodimus continued, the release of the Bank Indonesia (BI) Board of Governors Meeting (RDG) had been projected by the market, so it did not significantly move the market.
BI again maintained its benchmark interest rate or BI 7-Day Reverse Repo Rate (BI7DRR) at 5.75%.
Based on RTI Business data, the frequency of stock trading on the domestic exchange today was 1.23 million transactions.
A total of 18.68 billion shares changed hands, with a transaction value of Rp9.63 trillion.
The issuer with the code HAJJ became the top loser after weakening by 7.26%, followed by issuers BAJA and HILL which contracted by 6.98% and 6.97%, respectively.
Meanwhile, today's top gainer was PSDN, which strengthened by 34.29%, followed by PICO and SAGE, which strengthened by 26.92% and 22.14%, respectively.
The majority of stocks traded today closed lower. The details are 304 stocks weakened, 226 stocks strengthened, and 213 stocks were stagnant.
"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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