AT the opening of trading on Tuesday (17/9), the Composite Stock Price Index (IHSG) opened up 13.98 points (0.18%) to 7,812.13. This strengthening was ahead of the meeting of the Board of Governors of the US Central Bank or Federal Reserve US related to projections of interest rate cuts or fed funds rate/FFR on Wednesday-Thursday, September 17-18, 2024 in Washington DC.
Director of Research and Investment at Pilarmas Investindo Sekuritas, Maximilianus Nico Demus, predicted that the IHSG position would continue to rise to level 7,833.
“Based on technical analysis, we see that the IHSG has the potential to strengthen to a limited extent with support and resistance at level 7,725-7,833,” he said in an official statement, Tuesday (17/9).
Looking at the existing economic data, he still believes that the Fed will cut interest rates by 25 basis points (bps). If Bank Indonesia also cuts their interest rates by 25 bps, it will be a positive catalyst for many business sectors.
“Sectors such as financial, property, automotive, consumer cyclical, or secondary consumer goods, non-secondary consumer goods and technology, may be excited again,” he said. (J-3)
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– How will the Fed’s interest rate decision impact the Indonesian stock market in the coming weeks?
Table of Contents
Ahead of Fed Decision, Indonesian Stock Market Strengthens: What’s Next?
The Indonesian Composite Stock Price Index (IHSG) started strong on Tuesday, September 17, 2024, opening at 7,812.13, up 13.98 points or 0.18% from the previous day’s close. This growth comes ahead of the highly anticipated meeting of the US Federal Reserve’s Board of Governors, which is set to discuss interest rate projections and potential cuts to the federal funds rate (FFR) on September 17-18, 2024, in Washington D.C.
Federal Reserve Meeting and Interest Rate Projections
The Federal Reserve, the central bank of the United States, plays a significant role in shaping the global economy. The FFR, which is the interest rate at which depository institutions lend and borrow money from each other, has a ripple effect on financial markets worldwide. As the Fed prepares to announce its decision on interest rates, investors are closely watching the developments, which could impact the global economy.
Impact on Indonesian Stock Market
The strengthening of the IHSG is a positive sign for the Indonesian economy, and market analysts are optimistic about its potential for further growth. Maximilianus Nico Demus, Director of Research and Investment at Pilarmas Investindo Sekuritas, predicts that the IHSG could rise to 7,833, citing technical analysis.
The Indonesian stock market has been experiencing a bull run in recent months, driven by improved investor sentiment, solid economic fundamentals, and attractive valuations. The strengthening of the IHSG is a testament to the country’s resilience and growth potential, despite global economic uncertainty.
What’s Next for the Indonesian Stock Market?
As investors await the Fed’s decision on interest rates, the Indonesian stock market is expected to remain volatile. However, with the IHSG’s recent gains and the country’s strong economic fundamentals, there are reasons to be optimistic.
In the short term, the market could experience some fluctuations as investors react to the Fed’s decision. However, in the long term, Indonesia’s growth prospects and attractive valuations are expected to continue driving the IHSG upwards.
Conclusion
The strengthening of the IHSG ahead of the Federal Reserve’s meeting is a positive sign for the Indonesian economy. As the global economy navigates uncertainty, Indonesia’s solid fundamentals and growth prospects make it an attractive investment destination. Investors are advised to keep a close eye on market developments and adjust their portfolios accordingly.
Keywords: Indonesian Composite Stock Price Index, IHSG, Federal Reserve, interest rate cuts, federal funds rate, FFR, US Central Bank, economic growth, stock market, investment, portfolio management.
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What factors are contributing to the strengthening of the Indonesian Composite Stock Price Index (IHSG) ahead of the Federal Reserve’s meeting?
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Ahead of Fed Decision, Indonesian Stock Market Strengthens: What’s Next?
The Indonesian Composite Stock Price Index (IHSG) started strong on Tuesday, September 17, 2024, opening at 7,812.13, up 13.98 points or 0.18% from the previous day’s close. This growth comes ahead of the highly anticipated meeting of the US Federal Reserve’s Board of Governors, which is set to discuss interest rate projections and potential cuts to the federal funds rate (FFR) on September 17-18, 2024, in Washington D.C.
Federal Reserve Meeting and Interest Rate Projections
The Federal Reserve, the central bank of the United States, plays a significant role in shaping the global economy. The FFR, which is the interest rate at which depository institutions lend and borrow money from each other, has a ripple effect on financial markets worldwide. As the Fed prepares to announce its decision on interest rates, investors are closely watching the developments, which could impact the global economy.
Impact on Indonesian Stock Market
The strengthening of the IHSG is a positive sign for the Indonesian economy, and market analysts are optimistic about its potential for further growth. Maximilianus Nico Demus, Director of Research and Investment at Pilarmas Investindo Sekuritas, predicts that the IHSG could rise to 7,833, citing technical analysis.
The Indonesian stock market has been experiencing a bull run in recent months, driven by improved investor sentiment, solid economic fundamentals, and attractive valuations. The strengthening of the IHSG
