Fed Sentiment Scan: IHSG Closes Lower (Thursday, May 30, 2024)
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The Jakarta Composite Index (IHSG) fell 1.49% to 7,034.14 at the close of trading on Thursday (30/5/2024).
According to Pilarmas Investindo Sekuritas, today's index decline was influenced by market sentiment regarding the expected stance of The Fed, which is predicted to maintain higher interest rates for a longer period.
"The market is speculating that the Fed may delay the start of the easing cycle, or even decide not to cut interest rates at all this year, resulting in the market holding back from entering the equity market," said the Pilarmas Investindo team, as reported by Antara, Thursday (30/5/2024).
Based on the IDX-IC Sectoral Index, 10 out of 11 stock sectors were corrected today. The basic materials sector fell the most, by 2.10%, followed by the infrastructure and technology sectors, which fell by 1.86% and 1.52%, respectively.
Only one sector strengthened today, namely the health sector, which rose 0.25%.
According to RTI Business data, the frequency of stock trading on the domestic exchange today was 1.16 million transactions.
A total of 19.49 billion shares changed hands, with a total transaction value of Rp 14.18 trillion.
349 stocks closed lower today, 242 stocks were stagnant, and 185 stocks strengthened.
The issuer with the code MHKI was the top loser today after plunging 24.79%, followed by MKAP and PTPS, which fell by 24.68% and 21.62%, respectively.
On the other hand, the top gainer today was NICE, which soared 11.81%, followed by MARK and CYBR, which rose 10.06% and 9.85%, respectively.
Almost all Asian stock exchanges this afternoon were in the red. The Nikkei index weakened by 1.30% to 38,054.10, the Hang Seng index weakened by 1.34% to 18,230.18, the Shanghai index weakened by 0.62% to 3,091.67, while the Straits Times index rose 0.01% to 3,323.37.
"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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