The Fed Holds Interest Rates Steady; Indonesian Stock Exchange Closes Lower (Thursday, June 13, 2024)

The Jakarta Composite Index (JCI) closed down 0.27% at 6,831.56 on Thursday (June 13, 2024).

According to Pilarmas Investindo Sekuritas, today's index was influenced by market players' response to the United States Federal Reserve (The Fed) decision to hold its benchmark interest rate at 5.25%-5.5%.

"The Fed is considering the still-high US inflation, while maintaining its 2% inflation target as the basis for determining the future direction of interest rates," said the Pilarmas Investindo research team, as reported by *Katadata.co.id*, Thursday (June 13, 2024).

Based on the IDX-IC Sectoral Index, four sectors experienced corrections today. The basic materials sector fell the most, by 0.73%, followed by the transportation and property sectors, which fell by 0.26% and 0.23%, respectively.

Meanwhile, seven other sectors strengthened. The technology sector rose the highest, by 1.42%, followed by the energy and consumer staples sectors, which rose by 1.18% and 0.29%, respectively.

According to RTI Business data, the frequency of stock trades on the domestic exchange today totaled 812,410 transactions.

A total of 42.67 billion shares changed hands, with a total transaction value of Rp 14.23 trillion.

285 stocks closed lower today, 251 stocks rose, and 235 stocks were stagnant.

DART was the *top loser* today after plunging 11.22%, followed by BHIT and CMNT, which fell by 9.09% and 8.93%, respectively.

On the other hand, the *top gainer* today was CAMP, which soared 24.78%, followed by NICL and PAMG, which rose by 15.79% and 14.67%, respectively.

Asian stock exchanges closed mixed this afternoon. The Nikkei Index fell 0.40% to 38,720.50, the Hang Seng Index rose 0.97% to 18,112.63, the Shanghai Index fell 0.28% to 3,028.91, and the Straits Times Index rose 0.52% to 3,324.53.