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Indonesia's Stock Exchange (IHSG) Closes Lower Following Global Stock Market Trends (Monday, February 27, 2023)
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The Jakarta Composite Index (JCI) fell 1.79 points or weakened by 0.03% to 6,854.777 at the close of trading on Monday, February 27, 2023.
Today's index weakening followed the sluggishness of Asian and global stock markets.
"The JCI movement is in line with the global index which is in the red, responding to the core US Personal Consumption Expenditures (PCE) inflation data which rose 0.6% month-on-month, higher than the 0.4% in December 2022," said the research team at Pilarmas Investindo Sekuritas, as quoted by Antara, Monday (27/2/2023).
Core Personal Consumption Expenditures (PCE) inflation in the United States rose 0.6% month-on-month (mtm) and 4.7% year-on-year (yoy) in January 2023. This indicates that US consumer spending remains strong.
At the same time, new home sales in the US continued to rise by 7.2% mtm in January 2023 to 670,000 units. According to the research team at Pilarmas Investindo Sekuritas, this indicates an improvement in the housing market amid a dovish interest rate policy.
Furthermore, the research team at Pilarmas Investindo Sekuritas stated that today's stock decline was also influenced by the weakening commodity market, namely crude oil, coal, gold, and copper. On the other hand, gas strengthened by more than 2.5%.
Based on the Indonesia Stock Exchange (IDX) report, the frequency of stock trading on the domestic exchange today was 945,970 transactions.
A total of 18.18 billion shares changed hands, with a transaction value of Rp 11.59 trillion.
SUPR was the top loser, weakening by 7%. This was followed by HDFA and TALF, which contracted by 6.99% and 6.95% respectively.
Today's top gainers were ZATA, which strengthened by 33.3%, followed by UFOE and TFAS, which strengthened by 20.69% and 16.73% respectively.
The majority of stocks closed lower today. The details are 327 stocks weakened, 308 stocks stagnated, and 213 stocks strengthened.
"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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