Indonesia's IDX Closes Higher After BI Holds Benchmark Interest Rate (Thursday, June 20, 2024)

The Jakarta Composite Index (JCI) strengthened by 1.37% to 6,819.32 at the close of trading on Thursday (20/6/2024).

This stock strengthening occurred amid Bank Indonesia's (BI) decision to again hold the benchmark interest rate, or BI-Rate, at 6.25%.

In addition, the central bank also maintained the deposit facility rate at 5.50% and the lending facility rate at 7%.

"This policy is supported by strengthening monetary operations to enhance the effectiveness of Rupiah exchange rate stability and the inflow of foreign capital," said BI Governor Perry Warjiyo in a press conference, as reported by *Katadata*, Thursday (20/6/2024).

Based on the IDX-IC Sectoral Index, nine stock sectors increased today. The transportation sector led with a 1.55% increase, followed by the infrastructure and financial sectors, which rose by 1.51% and 1.43%, respectively.

Meanwhile, two other sectors weakened, namely the property and non-primary consumer goods sectors, which fell by 0.18% and 0.09%, respectively.

According to RTI Business data, the frequency of stock trading on the domestic exchange today was 813,650 transactions.

A total of 24.62 billion shares changed hands, with a total transaction value of approximately Rp16.99 trillion.

A total of 354 stocks closed higher today, 216 stocks weakened, and 211 stocks were stagnant.

Today's top gainers were SGER, which soared 22.55%, followed by PTPS and BATR, which rose by 20.59% and 10.71%, respectively.

On the other hand, the stock with the code TOPS became the top loser after plunging 50%, followed by GPSO and ISAP, which fell by 18.08% and 12.50%, respectively.

Most regional Asian stock exchanges closed in the green this afternoon. The Hang Seng Index weakened by 0.52% to 19,335.32, the Shanghai Index weakened by 0.42% to 3,005.43, the Straits Times Index weakened by 0.12% to 3,300, while the Nikkei Index strengthened by 0.16% to 38,633.