Investors Await BI's Monetary Policy Decision; IHSG Closes Down 0.39% (Monday, November 18, 2024)
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The Jakarta Composite Index (JCI) closed down 0.38% to 7,134.27 on Monday (November 18, 2024), remaining in the red due to foreign investor selling pressure.
According to Bank Indonesia (BI) data, capital outflow reached Rp7.42 trillion by the second week of November 2024, impacting Indonesia's investment risk premium.
"On the other hand, the market is also focusing its attention ahead of the Bank Indonesia Governor's Board meeting on November 19-20, 2024," wrote Pilarmas Sekuritas in its analysis, as reported by Katadata on Monday (November 18, 2024).
Furthermore, they assessed that BI has room to cut interest rates. However, the market believes BI will consider the Rupiah's weakening against the US dollar in determining its monetary policy.
Based on the IDX-IC Sectoral Index, 9 out of 11 stock sectors were corrected today. The technology sector fell the most, by 1.46%, followed by the property and energy sectors, which fell by 1.38% and 1.05%, respectively.
Meanwhile, the two other sectors strengthened, namely the basic materials and non-primary consumer goods sectors, which rose by 1.05% and 0.57%, respectively.
According to RTI Business data, the frequency of stock trading on the domestic exchange today was 1.12 million transactions.
A total of 21.73 billion shares changed hands, with a total transaction value of Rp10.16 trillion.
397 stocks closed lower today, 198 stocks rose, and 193 stocks were stagnant.
MLPT was today's top loser, plunging 19.59%, followed by BABY and SRTG, which fell 13.29% and 12.66%, respectively.
On the other hand, today's top gainer was DAAZ, soaring 24.72%, followed by BAJA and JAWA, which rose 21.05% and 19.44%, respectively.
In line with the JCI, most Asian stock exchanges closed in the red this afternoon. The Nikkei Index fell 1.09% to 38,220.89; the Shanghai Index fell 0.21% to 3,323.85; the Strait Times Index fell 0.32% to 3,732.55; while the Hang Seng Index rose 0.77% to 19,576.60.
"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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