Indonesia's IDX Closed Lower Amidst a 'Wait-and-See' Market Reaction to the Fed's Minutes (Wednesday, January 3, 2024)
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The Jakarta Composite Index (IHSG) fell 44.49 points or 0.61% to 7,279.09 at the close of trading on Wednesday (January 3, 2024).
This weakening occurred as market players remained in a wait-and-see mode regarding the minutes of The Federal Open Market Committee (FOMC) meeting on Wednesday (January 3, 2024) US time.
"The market assesses that the minutes will certainly provide an overview of The Fed's monetary policy regarding its benchmark interest rate," said the Research Team of Pilarmas Investindo Sekuritas, as reported by Antara, Wednesday (January 3, 2024).
Based on the IDX-IC Sectoral Index, seven sectors declined, with the health sector experiencing the sharpest drop at -0.92%, followed by the consumer staples and energy sectors, which fell by 0.82% and 0.38%, respectively.
Meanwhile, four other sectors increased, led by the technology sector at 0.21%, followed by the transportation and infrastructure sectors, which rose by 0.12% and 0.06%, respectively.
According to RTI Business data, the frequency of stock trading on the domestic exchange today was 1.25 million transactions.
A total of 17.82 billion shares changed hands, with a transaction value of Rp6.81 trillion.
The stock with the code VTNY was the top loser today after plunging 20.45%, followed by MPXL and CASA, which fell by 20% and 18.61%, respectively.
On the other hand, the top gainer today was NZIA, which surged 34.94%, followed by KJEN and KOBX, which rose by 34.88% and 34.59%, respectively.
Despite this, 262 stocks closed higher today, 259 stocks weakened, and 249 stocks strengthened.
The majority of regional Asian stock exchanges closed lower this afternoon. The Hang Seng Index fell 142.14 points or 0.85% to 16,646.41, the Shanghai Index rose 4.97 points or 0.17% to 2,967.25, and the Straits Times Index fell 30.51 points or 0.94% to 3,199.44.
The Nikkei Index (Japan) was closed for a national holiday.
"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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