Indonesia's IDX Closes Higher Ahead of The Fed's Interest Rate Announcement (Wednesday, July 26, 2023)
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The Jakarta Composite Index (JCI) strengthened by 30.56 points or 0.44% to 6,948.28 at the close of trading on Wednesday (26/7/2023).
This index strengthening occurred ahead of the Federal Reserve (The Fed) committee meeting scheduled for the early hours of July 27, 2023, Indonesian time.
The United States (US) central bank is expected to raise its benchmark interest rate by 25 basis points (bps) to a target range of 5.25%-5.5%.
"The JCI strengthened as market players and investors took a cautious stance ahead of today's US Fed interest rate decision," said the Pilarmas Investindo Sekuritas Research Team, as quoted by Antara, Wednesday (26/7/2023).
Based on RTI Business data, the frequency of stock trading on the domestic exchange today was 1.32 million transactions.
A total of 16.67 billion shares changed hands, with a transaction value reaching Rp10.31 trillion.
The issuer with the code MAHA became the top gainer after strengthening by 34.59%, followed by issuers TAYS and ERTX which strengthened by 24.78% and 24.55% respectively.
Meanwhile, today's top losers were JTPE, which weakened by 15%, followed by MEDS and AMAN which contracted by 14.85% and 14.37% respectively.
Although the index closed higher, the majority of stocks closed lower today. The details are: 284 stocks weakened, 250 stocks strengthened, and 209 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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