Indonesia's IDX Closes Higher Amidst Weakness in Asian Markets (Tuesday, May 23, 2023)
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The Jakarta Composite Index (IHSG) closed up 7.03 points or 0.1% to 6,736.684 at the end of trading on Tuesday (23/5/2023).
This strengthening of the stock index occurred amidst a weakening of Asian regional stock exchanges.
"At the end of trading, the IHSG closed in the green, while Asian stock indices weakened. This is in line with the market players' stance amid ongoing negotiations between the US President and the Speaker of the House, with no agreement yet reached on the debt ceiling," said the Pilarmas Investindo Sekuritas Research Team, as quoted by Antara, Tuesday (23/5/2023).
However, according to the Pilarmas Investindo Sekuritas Research Team, market players are also concerned about the potential for renewed tensions between the US and China related to the semiconductor technology war, where Chinese regulators declared that products from US chipmaker Micron Technology Inc. failed network security tests.
Major information infrastructure operators in China will be prohibited from purchasing Micron products from the US chip company.
Based on RTI Business data, the IHSG today moved in the range of 6,727.068 to 6,772.647.
Trading frequency of domestic stocks today reached 1.35 million transactions. A total of 18.03 billion shares changed hands, with a total transaction value of Rp10.91 trillion.
VICO, with the code VICO, was the top gainer after strengthening by 34.74%. This was followed by HOMI and IKAN, which strengthened by 22% and 21.05%, respectively.
On the other hand, the top loser today was HAJJ, which contracted by 9.87%, followed by KING and ADRO, which weakened by 9.74% and 6.91%, respectively.
Although the stock index strengthened, the majority of stocks closed lower today. The details are: 263 stocks weakened, 260 stocks strengthened, and 217 stocks were stagnant.
Regional Asian stock exchanges this afternoon include:
* Nikkei Index weakened by 129.00 points or 0.41% to 30,957.801
* Hang Seng Index weakened by 246.92 points or 1.25% to 19,431.25
* Shanghai Index weakened by 50.23 points or 1.52% to 3,246.24
* Straits Times Index strengthened by 6.99 points or 0.22% to 3,218.08.
"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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