The Composite Stock Price Index (IHSG) of the Indonesia Stock Exchange (IDX) closed lower on Thursday (15/8) afternoon, led by infrastructure sector stocks. IHSG closed down 26.54 points or 0.36% to 7,409.50.
Meanwhile, the group of 45 leading stocks or the LQ45 index fell 3.11 points or 0.34% to 919.51. “Investors welcomed another encouraging signal that inflation has eased, thus strengthening investor confidence that the United States (US) central bank The Fed will cut its benchmark interest rate next month,” said the Phillip Sekuritas Indonesia Research Team in its study in Jakarta, Thursday.
US Consumer Price Index (CPI) data showed the inflation rate slowed for four consecutive months to 2.9% year on year (yoy) in July 2024 or the lowest since March 2021 from 3.0% (yoy) in June 2024.
Core inflation was also recorded to have slowed for four consecutive months to 3.2% (yoy) – the lowest since April 2021 – from 3.3% (yoy) in June 2024 and in line with market expectations.
Japan’s 2Q24 Gross Domestic Product (GDP) data came out better than analysts’ expectations on both a quarterly and annual basis. Japan’s GDP posted a 0.8% quarter-on-quarter (qoq) expansion in the second quarter of 2024, higher than the estimated 0.5% growth and reversing from a 0.6% (qoq) contraction in the first quarter of 2024.
Opening higher, the JCI moved into negative territory until the close of the first session of stock trading. In the second session, the JCI remained in the red zone until the close of stock trading.
Also read: IHSG Closes Stronger Near 7,300
Based on the IDX-IC Sectoral Index, four sectors strengthened, led by property by 0.85%, followed by transportation & logistics and technology by 0.33% and 0.21% respectively. Meanwhile, seven sectors were corrected, namely infrastructure, which fell the deepest by minus 0.73%, followed by raw materials and energy by 0.66% and 0.65% respectively.
The stocks that experienced the biggest gains were BOLA, TSPC, ACST, IOTF, and TOBA. While the stocks that experienced the biggest declines were VINS, BIKE, LABA, PTPP, and BIPI.
The frequency of stock trading was recorded at 1,025,975 transactions. The shares traded were 17.11 billion shares worth Rp9.34 trillion. The price of 279 shares rose, 286 shares fell, and 224 did not move.
The regional Asian stock exchanges this afternoon included the Nikkei index, which strengthened by 284.20 points or 0.78% to 36,726.60; the Hang Seng index, which strengthened by 4.21 points or 0.02% to 17,109.14; the Shanghai index, which strengthened by 26.71 points or 0.94% to 2,877.36; and the Strait Times index, which strengthened by 29.44 points or 0.90% to 3,315.72. (Ant/Z-2)
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