Responding to the Fed's policy, the Jakarta Composite Index (IHSG) plunged 4.42% from the 7,000 level.

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Viva Budy Kusnandar 10/05/2022 11:20 WIB

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This week's decline pushed the IHSG below the psychological level of 7,000 for the first time since March 24, 2022.

10 Deepest Decreases (percent) of the JCI Period September 11, 2020 – May 9, 2022

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Responding to the Fed's policy, the Jakarta Composite Index (IHSG) plunged 4.42% from the 7,000 level.

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10 Deepest Decreases (percent) of the JCI Period September 11, 2020 – May 9, 2022

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The Jakarta Composite Index (IHSG) of the Indonesia Stock Exchange plummeted in the first trading session after the long Idul Fitri 2022 holiday in response to the United States Federal Reserve (The Fed) raising its benchmark interest rate by 50 basis points (bps) to 1%.

The IHSG fell 319.16 points (4.42%) to 6,909.751 on Monday (May 9, 2022), compared to its position on April 28, 2021. This drop was the sharpest since September 11, 2020, pushing the IHSG below the psychological level of 7,000 for the first time since March 24, 2022.

Investors offloaded their portfolios on the Jakarta exchange amid concerns about high interest rates in the United States. Inflation in the US reached 8.5% (year-on-year/yoy) in March 2022, giving the Fed room to raise its benchmark interest rate at its June and July 2022 meetings.

Furthermore, stock prices on the Jakarta exchange had already risen sharply. This can be seen in the IHSG, which has risen 9.84% year-to-date (YTD). Compared to its position on April 28, 2021, the IHSG has even risen 21% (yoy).

Meanwhile, most regional exchanges were in the red over the past year, except for the Vietnamese and Indian exchanges, which still recorded growth of 12.41% (yoy) and 10% (yoy), respectively.

Editor : Annissa Mutia

"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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Responding to the Fed's policy, the Jakarta Composite Index (IHSG) plunged 4.42% from the 7,000 level.

Responding to the Fed's policy, the Jakarta Composite Index (IHSG) plunged 4.42% from the 7,000 level.

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Responding to the Fed's policy, the Jakarta Composite Index (IHSG) plunged 4.42% from the 7,000 level.

Responding to the Fed's policy, the Jakarta Composite Index (IHSG) plunged 4.42% from the 7,000 level.

Tags

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Prevalence of Food Inadequacy in Kendal Decreased by 1.15% in the Last 5 Years

Average Length of Schooling for Grobogan Regency Residents Reaches 7.51 Years in 2025

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