Indonesia's Composite Stock Price Index (IHSG) Rises in Line with Increased Consumer Confidence Index (Wednesday, February 8, 2023)
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The Jakarta Composite Index (JCI) strengthened by 4.82 points or 0.07% to 6,940.124 at the close of trading on Wednesday, February 8, 2023.
This index strengthening is in line with the increase in the domestic consumer confidence index.
"Today's index strengthening is likely due to sentiment from the release of the consumer confidence index data, which increased to 123 from the previous 119.9, or above the forecast of 120," said Kiwoom Sekuritas analyst Sukarno Al Atas, as quoted by Antara, Wednesday (8/2/2023).
According to Bank Indonesia (BI) data, the Consumer Confidence Index (CCI) in January 2023 rose to 123 from 119.9 the previous month. This means that consumer confidence in Indonesia's economic conditions has increased.
Head of BI's Communication Department, Erwin Haryono, said that the strengthening of consumer confidence was driven by the increase in the Consumer Expectation Index (CEI) across all component indices. This is particularly true for the Business Activity Expectation Index and the Job Availability Expectation Index.
The Consumer Expectation Index (CEI) was recorded at 133.9, higher than 127.3 the previous month.
Based on data from the Indonesia Stock Exchange (IDX), the frequency of stock trading today was 1.14 million transactions.
A total of 19.14 billion shares changed hands, with a transaction value of Rp 8.91 trillion.
The issuer with the code ZATA was the top gainer, strengthening by 31.34%. This was followed by AHAP and HALO, which strengthened by 20.63% and 17%, respectively.
Meanwhile, today's top losers included PACK and NAYZ, which contracted by 9.88%, followed by ISAP, which weakened by 9.09%.
Although the stock index strengthened, the majority of stocks closed stagnant today. The breakdown is 303 stagnant stocks, 296 weakened stocks, and 246 strengthened 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."
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