Asian and Global Market Corrections Pressure Indonesian Stock Exchange (IHSG) (Wednesday, February 15, 2023)
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The Jakarta Composite Index (JCI) closed down 27.13 points, or 0.39%, to 6,914.538 on Wednesday, February 15, 2023.
The decline in the stock index occurred in line with the weakening of Asian and global stock markets today.
"Today's JCI movement is still within a reasonable consolidation range amid commodity price fluctuations," said William Surya Wijaya, CEO of Yugen Bertumbuh Sekuritas, as quoted by Antara, Wednesday (15/2/2023).
From an external perspective, William said that the United States (US) reported January 2023 inflation at 6.4% year-on-year (yoy), higher than the consensus forecast of 6.2% yoy.
Domestically, he continued, Indonesia's trade balance was recently reported to have reached US$3.87 billion in January 2023, with export value reaching US$22.31 billion, up 16.37% yoy. Meanwhile, import value for the same period reached US$18.44 billion, up 1.27% yoy.
On the other hand, according to William, the market is still awaiting the Bank Indonesia (BI) Board of Governors meeting on Thursday (16/1), which is expected to maintain the benchmark interest rate at 5.75%.
Based on reports from the Indonesia Stock Exchange (IDX), the frequency of stock trading on the domestic exchange today was 1.04 million transactions.
A total of 17.3 billion shares changed hands, with a transaction value of Rp9.29 trillion.
EURO-coded issuer became the top loser after weakening by 8.63%. This was followed by PACK and AMAN issuers, which contracted by 7.84% and 6.99%, respectively.
Today's top gainers were KKES, which strengthened by 31.11%, followed by TRIS and FMII, which strengthened by 24.76% and 17.82%, respectively.
Although the stock index weakened, the majority of stocks closed stagnant today. The details are 326 stagnant stocks, 316 weakening stocks, and 203 strengthening stocks.
"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."