US Inflation Slows, Indonesian Stock Exchange (IHSG) Closes Sharply Higher for the Week (Friday, November 11, 2022)
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The Jakarta Composite Index (IHSG) closed up at 7,089.206 on Friday, November 11, 2022. This positive movement in stocks occurred alongside the slowing inflation rate in the United States (US).
US inflation reached 7.7% (year-on-year/yoy) in October 2022, lower than economists' forecast of 8%. This is the lowest level since January of this year.
"Asian stock indices closed sharply higher this afternoon after the US inflation rate slowed faster than expected, raising hopes that the US central bank, the Federal Reserve, may slow down its plan to raise benchmark interest rates," said the Phillip Sekuritas research team, as quoted by Antaranews.com on Friday (11/11).
Based on the Indonesia Stock Exchange (IDX) report, the frequency of stock trading on Friday, November 11, 2022, was recorded at 1.35 million transactions.
A total of 23.34 billion shares changed hands, with a transaction value of Rp 15.94 trillion.
The issuer with the code ZATA was the top gainer, strengthening by 34.81%. This was followed by issuers BOLT and SGER, which strengthened by 25% each.
Meanwhile, the issuer NANO weakened by 9.38% and became the top loser. Following this were UVCR and ITMG, which contracted by 7.04% and 7%, respectively.
The majority of stocks closed higher today. The details are: 334 stocks strengthened, 280 were stagnant, and 209 weakened.
"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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