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 dips 0.05% as central bank keeps key rate at 6%
The IDX Composite saw a slight dip of 0.05 percent to 7,349.02 on Wednesday, after the central bank decided to maintain its benchmark rate at 6 percent.
Change Size
Attendees look at stock movements on Jan. 2 during the opening ceremony of the Indonesia Stock Exchange (IDX) for 2024 at the bourse in Jakarta. (Antara/Asprilla Dwi Adha)
T
he Indonesia Stock Exchange (IDX) Composite saw a slight dip of 0.05 percent or 3.57 points to close at 7,349.02 on Wednesday, after Bank Indonesia (BI) decided to maintain its benchmark interest rate at 6 percent.
"The Bank Indonesia Board of Governors Meeting on Feb. 20 and 21 decided to maintain the BI-Rate at 6 percent," BI Governor Perry Warjiyo told a press conference on Wednesday, as quoted by bisnis.com.
The meeting also decided to maintain the deposit and lending rates at 5.25 percent and 6 percent, respectively.
The IDX Composite fluctuated during the trading day within a range of 7,286 to 7,370, with most movements leaning toward the red.
Wednesday’s total transaction value reached Rp 10.97 trillion (US$702.08 million).
Of the listed stocks, 221 rose, 326 fell and 224 traded flat, with some highlights.
Among the losers, PT GoTo Gojek Tokopedia (GOTO) dropped 3.61 percent to Rp 80, PT Amman Mineral Internasional (AMMN) fell 2.80 percent to Rp 7,800 and PT Telekomunikasi Indonesia (TLKM) dipped 0.71 percent to Rp 4,180.
Meanwhile the gainers were led by PT Bank Mandiri (BMRI) increasing 1.40 percent to Rp 7,250, followed by PT Astra International (ASII) rising 0.96 percent to Rp 5,250.
Martha Christina, head of investment information at Mirae Asset Sekuritas Indonesia, said the market had anticipated the central bank’s decision to maintain its benchmark rate.
"Since the majority consensus remains at 6 percent, it will not affect the market much," Martha said on Wednesday, as quoted by Bisnis.com.
She added that domestic stock movements this month would also be influenced by the release of 2023 annual reports from listed companies and sentiment around the United States Federal Reserve’s benchmark interest rate, which would affect foreign inflows to Indonesia.
