Global Sentiment Weighs Down IHSG, Causing 0.49% Correction Over the Week

The Jakarta Composite Index (JCI) corrected 0.49% over the week, closing at 6,255.6 on Friday (23/8) from 6,286.66 at the end of last week's trading. However, compared to the previous day's trading, the JCI rose 0.26% from 6,239.24.

Today, the JCI closed stronger after three consecutive days of correction. At the beginning and middle of the week, market players awaited the decision of Bank Indonesia's (BI) Board of Governors Meeting (RDG), which was predicted to cut the benchmark interest rate on Thursday (22/8).

Although the RDG announced a cut in BI's benchmark interest rate to 5.5%, in line with market expectations, the JCI still closed down 0.22% to 6,239.24 on Thursday (22/8). Muhammad Nafan Aji, an analyst at Binaartha Sekuritas, said that the JCI correction was more influenced by factors related to the slowdown in global economic growth.

(Read Databoks: [US-China Tensions Ease, JCI and Rupiah Strengthen at the End of the Week])