Indonesia's Stock Exchange (IHSG) Weakens After Central Bank Holds Benchmark Interest Rate (Wednesday, July 17, 2024)

The Jakarta Composite Index (JCI) closed down 0.074 points or 0% to 7,224.21 at the end of trading on Wednesday (17/7/2024). This weakening occurred after Bank Indonesia (BI) decided to maintain its benchmark interest rate, or BI *rate*.

In July 2024, the BI *rate* remained at 6.25%. In addition, BI also maintained the *deposit facility* interest rate at 5.50% and the *lending facility* interest rate at 7%.

(See also: BI Maintains Benchmark Interest Rate at 6.25% in July 2024)

Based on the IDX-IC Sectoral Index, six sectors experienced corrections today. The health sector fell the most, by 0.42%, followed by the basic materials and technology sectors, which fell by 0.32% and 0.25%, respectively.

Meanwhile, five other sectors strengthened. The non-primary consumer goods sector rose the highest, by 0.76%, followed by the transportation and finance sectors, which rose by 0.57% and 0.38%, respectively.

According to RTI Business data, the frequency of stock trading on the domestic exchange today was 1.09 million transactions.

A total of 28.04 billion shares changed hands, with a transaction value of Rp 11.68 trillion.

251 stocks closed lower today, 287 stocks rose, and 250 stocks were stagnant.

RICY was today's *top loser*, plunging 11%, followed by KIJA and BREN, which fell by 8.67% and 8.53%, respectively.

On the other hand, today's *top gainer* was IOTF, which soared 34.94%, followed by MSKY and BSBK, which rose by 34.38% and 22.08%, respectively.

Asian stock exchanges closed mixed this afternoon. The Nikkei index fell 0.43% to 41,097.69, the Hang Seng Index rose 0.06% to 17,739.41, the Shanghai index fell 0.45% to 2,962.86, and the Straits Times index rose 0.05% to 3,489.57.

(See: 270 Stocks in the Red, JCI Closes Down 0.75% (Tuesday, July 16, 2024))