Fed Holds Interest Rates Steady, Indonesian Stock Exchange (IHSG) Closes Higher (Thursday, December 14, 2023)
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The Jakarta Composite Index (IHSG) rose 1.42% to 7,176.02 at the close of trading on Thursday (14/12/2023).
This index strengthened amid the announcement by the United States (US) central bank, The Fed, to hold its benchmark interest rate at 5.5% in December 2023.
“(The Fed's decision) boosted market optimism, where the economy can be said to have recovered and there will be potential for a rate cut in the first half of 2024,” said MNC Sekuritas analyst Herditya Wicaksana, as reported by Antara, Thursday (14/12/2023).
"This boosted technology and banking issuers, which were the drivers of the index today," he added.
Based on the IDX-IC Sectoral Index, eight stock sectors rose today. The technology sector led with a 5.93% increase, followed by the property and financial sectors, which rose 2.31% and 2.15%, respectively.
Meanwhile, three sectors declined. The infrastructure sector fell the most, at -1.91%, followed by the basic materials and healthcare sectors, which fell 1.25% and 0.28%, respectively.
Based on RTI Business data, the frequency of stock trading on the domestic exchange today reached 1.29 million transactions.
A total of 26.43 billion shares changed hands, with a total transaction value of Rp15.62 trillion.
Issuer WIKA was today's top gainer, surging 24.1%, followed by JAWA and BBYB, which rose 14.86% and 14.62%, respectively.
On the other hand, issuer INET was the top loser after plunging 34.51%, followed by DEWA and TGUK, which fell 12.16% and 10.91%, respectively.
Asian regional stock exchanges showed mixed movements this afternoon. The Nikkei index weakened 0.73% to 32,686.30, the Hang Seng index strengthened 1.07% to 16,402.18, the Shanghai index weakened 0.33% to 2,958.99, and the Strait Times index strengthened 0.6% to 3,122.95.
"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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