TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
IDX Composite closes lower as BI keeps rates steady at 6%
The IDX Composite inched 0.14 percent down to 7,209.6 on Thursday after central bankers decided to maintain the benchmark interest rate at 6 percent.
Change Size
An employee takes a photo of a screen displaying stock movements on July 4, 2023, at the Indonesian Stock Exchange (IDX) in Jakarta. The IDX Composite inched 0.14 percent down to 7,209.6 on Dec. 21, 2023, after central bankers decided to maintain the benchmark interest rate at 6 percent. (Antara/Hafidz Mubarak A)
T
he Indonesia Stock Exchange (IDX) Composite (IHSG) experienced a downturn on Thursday, closing 10.04 points or 0.14 percent lower at 7,209.6.
In the morning, brokerage firm Ajaib Sekuritas predicted mixed performance for the IHSG in anticipation of the central bank’s decision on interest rates.
“Today, the IDX Composite is predicted to exhibit mixed trends with a tendency to weaken, fluctuating within the range of 7,160 and 7,260,” said Ajaib Sekuritas financial expert Ratih Mustikoningsih, as quoted by the Antara news agency.
On the domestic front, the Bank Indonesia (BI) board of governors meeting (RDG) concluded with a decision to maintain its benchmark interest rate at 6 percent. The deposit and lending facility rates were also held steady at 5.25 percent and 6.75 percent, respectively.
This move aims to support preemptive measures and a forward-looking approach to keep inflation within the target range of 2.5 percent, with a tolerance of 1 percent fluctuation, by 2024.
In addition, market attention is also directed toward the upcoming vice presidential candidate debate on Friday. This event is expected to offer insights into the policy direction of each vice presidential candidate, influencing Indonesia’s economic policy moving forward.
The total transaction value of the stock exchange for Thursday reached Rp 10.7 trillion (US$684.8 million).
Most stock sectors witnessed declines, with the health sector experiencing the most significant drop at 1.4 percent. Following closely was technology, with a 1 percent decline.
Only three sectors strengthened at moderate rates. Property and infrastructure rose by 0.1 percent each, while transportation increased by 0.07 percent.
While the IDX Composite fell during the trading session, three stocks reached the upper auto-rejection limit (ARA).
PT Indomobil Multi Jasa (IMJS) led the top gainers with a 25 percent rise, followed by PT Copper Mulia Semanan (TBMS), which gained 24.9 percent and PT Indomobil Sukses Internasional (IMAS), which rose by 24.6 percent.
On the other hand, PT Darmi Bersaudara (KAYU) experienced the most significant decline, hitting the local bourse’s one-day share price decrease limit (ARB) with a 24.7 percent drop. PT Rukun Raharja (RAJA) fell by 23.2 percent, and PT Gozco Plantations (GZCO) declined by 14.6 percent.
