Indonesia's Composite Stock Price Index (IHSG) Closed Higher in Line with Gains in Asian Stock Markets (Monday, May 22, 2023)

The Jakarta Composite Index (JCI) closed up 29.09 points, or 0.43%, to 6,729.65. This positive closing is in line with the rise in Asian stock markets.

Data from RTI Business shows that the Nikkei 225 (N225) in Tokyo increased by 0.9% to 31,086.801. The Hang Seng Index (HSI) in Hong Kong strengthened by 1.17% to 19,678.170.

Meanwhile, the Shanghai Composite Index (SSEC) rose 0.39% to 3,296.470. The Straits Times Index (STI) in Singapore also climbed 0.27% to 3,211.090.

Similarly, the LQ45 index, comprising 45 leading stocks, rose 0.62% to 945.43.

"Entering a week full of hope, stocks in the Asian region also saw increases. This is certainly inseparable from the positive sentiment coming from Joe Biden, where Biden said that relations between the United States (US) and China will improve as soon as possible," wrote the Pilarmas Investindo Sekuritas Research Team in its study to Antara, Monday (22/5/2023).

However, discussions regarding the US debt ceiling remain a primary concern. Analysts believe that as long as these discussions are not concluded, market volatility will remain high.

Regarding the US debt ceiling, the awaited step is a meeting between US President Joe Biden and House Speaker Kevin McCarthy on Monday (May 22, 2023), US time.

Furthermore, the volume of shares traded reached 18.68 billion shares. The transaction value reached Rp 11.09 trillion with a frequency of 1.41 million times.

The stocks that strengthened today reached 297, weakened 255, and remained static at 188.

The top gainers were UNIQ, JARR, OKAS, MPOW, and PTMP. The top losers were NCKL, LMPI, HILL, SAGE, and AMAN.

(Also read: JCI Closed Higher Amid Optimism Over US Debt Deal (Friday, May 19, 2023))