Indonesia's IDX Closes Higher on Rising Domestic Foreign Exchange Reserves (Tuesday, February 7, 2023)
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The Jakarta Composite Index (IHSG) strengthened by 61.51 points or 0.89% to 6,935.301 at the closing of Tuesday's trading, February 7, 2023.
This stock index strengthening is in line with the increase in domestic foreign exchange reserves.
"This IHSG strengthening also coincides with the release of foreign exchange reserve data, which stands at US$139.4 billion, above consensus expectations," said MNC Securities Analyst Herditya Wicaksana, as quoted by Antara, Tuesday (7/2/2023).
Bank Indonesia (BI) recently reported that Indonesia's foreign exchange reserves reached US$139.4 billion at the end of January 2023. This position increased compared to the end of December 2022, which was US$137.2 billion.
Indonesia's foreign exchange reserves at the end of January 2023 were equivalent to 6.1 months of import financing, or six months of import and government foreign debt payments, and above the international adequacy standard of around three months of imports.
According to Erwin Haryono, Executive Director and Head of BI's Communication Department, the increase in foreign exchange reserves in January 2023 was influenced by the issuance of government global bonds and tax and service receipts.
Based on data from the Indonesia Stock Exchange (IDX), the frequency of today's stock trading was 1.17 million transactions.
A total of 18.51 billion shares changed hands, with a transaction value of Rp10.73 trillion.
The issuer with the code ZATA became the top gainer with a strengthening of 34%. Followed by SDPC and IPPE, which strengthened by 24.83% and 24%, respectively.
Meanwhile, today's top losers include NAYZ, which contracted by 10%, followed by ISAP and EURO, which weakened by 9.84% and 7.18%, respectively.
Although the stock index strengthened, the majority of stocks closed stagnant today. The details are 307 stagnant stocks, 275 strengthening stocks, and 259 weakening stocks.
"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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