Fed Policy Anticipation Weighs on Indonesian Stock Exchange, Closing Down 0.63% (Thursday, November 28, 2024)
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The Jakarta Composite Index (IHSG) weakened by 0.63% to 7,200.15 at the close of trading on Thursday (28/11/2024).
Pilarmas Investindo Sekuritas assessed that the market appears to be anticipating a cautious approach by the United States Federal Reserve (the Fed) in cutting its benchmark interest rate.
This is in line with the release of US economic data showing 2.8% annual growth in the third quarter of 2024.
"This signals the strength of the US economy, leading the market to respond with a view that increasingly limits the Fed's room to lower interest rates next year," wrote Pilarmas Investindo Sekuritas in its analysis, as reported by *Katadata*, Thursday (28/11/2024).
Based on the IDX-IC Sectoral Index, seven domestic stock sectors were corrected today. The energy sector fell the most, by 2.81%, followed by the basic materials and infrastructure sectors, which corrected by 1.13% and 0.86%, respectively.
Meanwhile, four other sectors strengthened, with the health sector leading with a 2.20% increase. The non-cyclical consumer goods and cyclical consumer goods sectors rose by 0.31% and 0.07%, respectively.
According to RTI Business data, the frequency of stock trading on the domestic exchange today was 1.06 million transactions.
A total of 26.22 billion shares changed hands, with a total transaction value of Rp 10.70 trillion.
342 stocks closed lower today, 228 stocks were stagnant, and 222 stocks strengthened.
Citing *Investing.com*, today's top losers were SURI and TOSK, both plummeting 34.56%, followed by ADRO, which fell 24.80%.
On the other hand, today's top gainers were SKLT, soaring 34.83%, followed by UNTD and INPC, which rose by 34.69% and 25%, respectively.
Asian stock exchanges closed mixed this afternoon. The Nikkei index rose 0.56% to 38,349.06; the Hang Seng index fell 1.20% to 19,366.96; the Shanghai index fell 0.43% to 3,295.70; and the Straits Times index rose 0.79% to 3,737.25.
"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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| Name | Value | % | |
|---|---|---|---|
| Inflasi yoy (Jun) | 3,34% | +0.26 | |
| Inflasi mom (Jun) | 0,44% | +0.16 | |
| Economic growth | 5,11% | +0.08 | |
| Pertumbuhan ekonomi (yoy) (Q1) | 5,61% | +4.08 | |
| Persentase kemiskinan (Des) | 7,50% | -0.75 | |
| Gini rasio (Sem2) | 0,38 | 0.00 | |
| Nilai Tukar USDIDR | 18.073 | +0.14 | |
| PDB ADHK (Q1) | 3.447,70 | -0.77 | |
| Ekspor Migas (Mei) | 758,10 | -34.38 | |
| Neraca perdagangan (Mei) | -1,61 | -1,907.18 | |
| Impor Migas (Mei) | 4,51 | -1.82 | |
| Ekspor (Mei) | 23,20 | -8.30 | |
| Impor (Mei) | 24,81 | -1.59 | |
| Kunjungan Wisman (Mei) | 1,38 | +10.69 | |
| NTP (Jun) | 114,65 | +0.76 |
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