Indonesia's IDX Closed Lower Despite Gains in Most Asian Markets (Friday, April 28, 2023)
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The Jakarta Composite Index (IHSG) closed down 29.76 points, or 0.43%, to 6,915.72 on Friday, April 28, 2023.
This weakening occurred despite the strengthening of most Asian stock markets.
This afternoon, the Nikkei index rose 1.4% to 28,856.40, the Hang Seng index rose 0.27% to 19,894.57, the Shanghai index rose 1.14% to 3,323.27, while the Straits Times index weakened 0.35% to 3,270.51.
"The IHSG tends to move variably, while the majority of Asian exchanges strengthened amid the slowing economic growth of the United States (US) in the first quarter of this year," said the Pilarmas Investindo Sekuritas Research Team, as quoted by Antara, Friday (28/4/2023).
The US Department of Commerce recently reported that the US economy grew by 1.1% (year-on-year/yoy) in Q1 2023, lower than the initial projection of 2.3% (yoy) and slower than the previous period's growth of 2.6% (yoy).
On the other hand, according to the Pilarmas Investindo Sekuritas Research Team, positive catalysts came from market players who are optimistic about the release of Q1 2023 corporate financial reports, as well as several reports on improving industrial production and retail sales in Asia. This offset concerns about the US economy.
Based on RTI Business data, the frequency of stock trading on the domestic exchange today was 1.21 million transactions.
A total of 17.04 billion shares changed hands, with a transaction value of Rp 12.96 trillion.
The issuer with the code MENN became the top loser after weakening by 8.62%, followed by UNTR and GULA issuers which contracted by 7% and 6.99% respectively.
Meanwhile, today's top gainer was NELY, which strengthened by 24.84%, followed by AWAN and COAL, which strengthened by 24.59% and 15.71% respectively.
The majority of shares traded today closed lower. The details are 280 shares weakened, 255 shares strengthened, and 196 shares 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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