Markets Await Fed Speech, Indonesian Stock Exchange Closes Weak (Tuesday, February 11, 2025)
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The Jakarta Composite Index (IHSG) closed down 1.75% or 116.15 points to 6,531.99 on Tuesday (February 11, 2025).
According to *Antaranews*, the IHSG's weakness is in line with the market's "wait and see" attitude towards statements or speeches by the United States (US) central bank, The Federal Reserve (The Fed), which will have a significant impact on the market.
"Market players' attention will be focused on Federal Reserve Chairman Jerome Powell, who will be speaking before Congress," stated the research team of Phillip Sekuritas Indonesia in its Jakarta-based study to *Antaranews* on Tuesday (February 11, 2025).
The research team added that The Fed Governor, Jerome Powell, will deliver his speech before Congress on Tuesday morning US time, or 10 PM WIB.
Following this, market players are also awaiting the release of the main US inflation report this week; the January 2024 Consumer Price Index (CPI) will be released on Wednesday (February 12, 2025), followed by initial weekly jobless claims and the Producer Price Index on Thursday (February 13, 2025).
Based on the IDX-IC Sectoral Index, only one sector strengthened, namely technology, by 0.53%.
The remaining ten sectors declined. The infrastructure sector fell the most, by 3.94%, followed by the energy and transportation and logistics sectors, which fell by 3.18% and 2.96%, respectively.
According to RTI Business data, the frequency of stock trading on the domestic exchange today was 1.28 million transactions.
A total of 16.93 billion shares changed hands, with a total transaction value of Rp 12.68 trillion.
424 stocks closed lower today, 171 stocks strengthened, and 198 stocks were stagnant.
The issuer with the code FMII was today's top loser after falling 19.64%, followed by CUAN and ISAT, which fell by 19.01% and 15.36%, respectively.
On the other hand, today's top gainer was SKLT, which soared 34.12%. This was followed by GPSO and SKBM, which rose by a similar percentage, 24.86% and 24.84%, respectively.
Asian markets closed mixed. The Nikkei index rose 0.04% to 38,801.17; the Hang Seng index fell 1.06% to 21,294.85; the Shanghai index fell 0.12% to 3,318.05; and the Strait Times index fell 0.37% to 3,860.76.
(Also read: [Impact of US Tariff Policy, IHSG Closed Down 1.40% (Monday, February 10, 2025)])
"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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