Indonesia's Stock Exchange (IHSG) Weakens Affected by The Fed's Issues and Commodity Prices (Friday, February 10, 2023)
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The Jakarta Composite Index (JCI) fell 17.04 points, or 0.25%, to close at 6,880.33 on Friday, February 10, 2023.
The index's decline towards the end of the week occurred amid market conditions that are still observing the direction of The Federal Reserve's (The Fed's) policy.
"Today's JCI movement is expected to be influenced by the movement of the US stock exchange, where investors are still wary of and observing the hawkish stance of The Fed, which seems to be planning to raise its Fed Fund Rate again," said MNC Sekuritas analyst Herditya Wicaksana, as quoted by Antara, Friday (10/2/2023).
In addition, according to Herditya, the market is awaiting the release of the US inflation data report for January 2023, which will be released next week. He also assessed that the JCI was influenced by commodity price movements, especially coal.
Based on the RTI Business Exchange report, the frequency of stock trading on the domestic exchange today was 1.16 million transactions.
A total of 17.05 billion shares changed hands, with a transaction value of Rp9.52 trillion.
The issuer with the code IRSX became the top loser after weakening by 7%. This was followed by issuers JKON and ARTO, which contracted by 6.99% and 6.97%, respectively.
Meanwhile, today's top gainers were VAST, which strengthened by 25%, followed by SINI and LAJU, which strengthened by 19.31% and 18.45%, respectively.
The majority of stocks traded today closed lower. The details are 362 stocks weakened, 200 stocks stagnated, and 162 stocks strengthened.
"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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