Most Asian markets closed in the red; Indonesia's IDX Composite Index closed lower (Thursday, March 30, 2023)

The Jakarta Composite Index (IHSG) fell 30.485 points or 0.45% to 6,808.95 at the close of trading on Thursday (30/3/2023).

According to RTI Business, the LQ45 index, comprising 45 leading stocks, also declined by 7.392 points or 0.78% to 939.6.

"We estimate that the IHSG is in a short-term uptrend and is vulnerable to correction, and we anticipate profit-taking by investors after two days of significant strengthening," said MNC Sekuritas analyst Herditya Wicaksana, as reported by Antara news agency on Thursday (30/3/2023).

Several Asian stock exchanges also traded in the red. Among them, Japan's Nikkei 225 index fell 100.9 points or 0.36% to 27,782.9. Singapore's Straits Times index also contracted 5.36 points or 0.16% to 3,257.18.

Herditya stated that the IHSG and Asian exchanges weakened due to news of a major French bank involved in a dividend tax scandal. French prosecutors are investigating BP Paribas, Societe Generale SA (Socgen), and HSBC Holdings Plc.

This situation further eroded confidence in the banking sector, which is already facing a crisis. Another sentiment affecting the market is the anticipation of the release of US economic data on Friday (31/3/2023). Investors are awaiting the release of personal consumption expenditures data, which will also indicate the stance of the US Federal Reserve (The Fed) on monetary policy.

A total of 17.93 billion shares were traded, with a transaction value of nearly Rp 10 trillion. Trading frequency reached 1.35 million transactions.

The top three gainers today were SICO, up 34.83%; FIRE, up 34.12%; and BAPA, up 33.85%.

The top three losers were IRSX, down 6.98%; SAGE, down 6.96%; and HILL, down 6.8%.

Overall, 265 stocks rose, 268 stocks fell, and 186 stocks remained unchanged.