Indonesia's Composite Stock Price Index (IHSG) Closed Lower Amidst Rising US Inflation (Friday, August 11, 2023)
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The Jakarta Composite Index (IHSG) closed down 13.29 points, or 0.19%, to 6,879.979 on Friday's (August 11, 2023) trading session.
This weakening of the stock index occurred amid a rise in US inflation last month.
The annual inflation rate in the US rose to 3.2% year-on-year (yoy) in July 2023, up from 3% (yoy) in June 2023. This slight increase in inflation has led the market to anticipate the direction of the US Federal Reserve's (The Fed) next monetary policy.
Based on RTI Business data, the frequency of stock trades on the domestic exchange today totaled 933,780 transactions.
A total of 15.7 billion shares changed hands, with a transaction value of Rp7.46 trillion.
COAL was today's top loser, falling 14.86%, followed by BBSS and KLAS, which contracted by 14.77% and 11.76% respectively.
Meanwhile, today's top gainer was CYBR, which strengthened by 13.33%, followed by BSML and JTPE, which strengthened by 11.7% and 11.2% respectively.
The majority of stock indices closed lower today. Specifically, 271 stocks weakened, 241 stocks were stagnant, and 225 stocks strengthened.
Regional Asian stock exchanges also weakened this afternoon. The Hang Seng Index contracted 173.07 points, or 0.90%, to 19,075.189; the Shanghai Index weakened 65.31 points, or 2.01%, to 3,189.25; and the Straits Times Index weakened 28.65 points, or 0.86%, to 3,294.28.
"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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