Indonesia's Composite Stock Price Index (IHSG) Weakens, Market Awaits Fed Chair's Speech (Tuesday, March 5, 2024)

The Jakarta Composite Index (IHSG) closed down 29.28 points, or 0.40%, to 7,247.46 on Tuesday (March 5, 2024).

The index weakened amid market players' anticipation of Chairman of The Fed Jerome Powell's speech on the US economy.

"The market predicts that Powell will provide a report on the economy and inflation, which will give an indication of the right time to lower interest rates," said the Research Team of Pilarmas Investindo Sekuritas, as reported by *Katadata*, Tuesday (March 5, 2024).

Based on the IDX-IC Sectoral Index, 10 out of 11 stock sectors weakened at the close of trading on Tuesday (March 5, 2024). The property sector fell the most, by 1.43%. This was followed by the consumer staples and technology sectors, which fell by 0.89% and 0.86%, respectively.

Meanwhile, only one sector strengthened, namely the energy sector, which rose 0.72%.

According to RTI Business data, the frequency of stock trading on the domestic exchange on Tuesday (March 5, 2024) was 1.23 million transactions.

A total of 20.54 billion shares changed hands, with a transaction value of Rp 9.62 trillion.

SMLE was the *top loser* on Tuesday (March 5, 2024) after plunging 24.83%, followed by SURI and BWPT, which fell 18.65% and 9.84%, respectively.

On the other hand, the *top gainer* was ALII, which soared 22.09%, followed by MPIX and SATU, which rose 21.49% and 12.12%, respectively.

A total of 340 stocks closed lower, 236 stocks were stagnant, and 198 stocks strengthened.

Meanwhile, regional Asian stock exchanges on Tuesday (March 5, 2024) moved variably. The Nikkei index weakened 0.03% to 40,097.60, the Hang Seng index weakened 2.61% to 16,162.64, the Shanghai index strengthened 0.28% to 3,047.79, and the Straits Times index weakened 0.48% to 3,107.10.