Indonesia's IDX Closes Higher Amid Cooling US Inflation (Thursday, July 13, 2023)
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The Jakarta Composite Index (IHSG) strengthened by 2 points or 0.03% to 6,810.213 at the close of trading on Wednesday (13/7/2023).
The strengthening of the stock index today is in line with the easing of the United States (US) annual inflation in June 2023, which generally reached 3% (year-on-year/yoy).
The US inflation rate in June 2023 has slowed for 12 consecutive months, also becoming the lowest inflation in the last two years.
Although general inflation in the US is lower than a year ago, the US central bank, The Federal Reserve or The Fed, still has the potential to raise its benchmark interest rate. This aims to suppress the inflation rate to the target of 2%.
Based on RTI Business data, the frequency of stock trading on the domestic exchange today was 1.2 million transactions.
A total of 19.77 billion shares changed hands, with transaction value reaching Rp9.79 trillion.
The issuer with the code SKRN became the top gainer after strengthening by 23.02%, followed by issuers MKTR and SGER which strengthened by 16.15% and 13.59% respectively.
Meanwhile, today's top loser was PADA, which weakened by 14.29%, followed by CFIN and HRTA which contracted by 11.03% and 10.78% respectively.
Although the index strengthened, the majority of stocks closed lower today. The details are: 277 stocks weakened, 264 stocks strengthened, and 197 stocks were stagnant.
"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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