Jakarta Index Closes Lower on Friday

A lady walks past a stock exchange board in Jakarta where Jakarta Composite Index closes lower.

Jakarta, MINA – The Jakarta composite index (IHSG) closed 23.73 points lower on Friday still as a result of the Fed`s plan to raise its fund rate.

The index of the Indonesian Stock Exchange (BEI) dropped 0.36 percent to close at 6,582.31 points with index of 45 most liquid stocks (LQ45) down 0.34 percent to 1,098.14 points.

“Share prices at Asian markets including IHSG tended to weaken on continued sell off triggered by sentiment of the Fed`s aggressive move to raise its benchmark interest rate,” analyst of Binaartha Sekuritas Reza Priyambada said.

In addition, the market players in the United States responded negatively to Donald Trump`s announcement of plan to impose tax on steel and aluminum imports.

Also Read:  BEI Index Hits A New Record High

The negative sentiment spread to Asia, Reza said.

However, the positive performance already released of listed companies prevent the IHSG from diving deeper, he said.

Trade on Friday was recorded with 355,352 transactions with 10.035 billion shares worth Rp7.879 trillion changing hands. Gainers were out numbered by decliners by 134 against 229 shares with 108 shares unchanged.

Regional markets such Nikkei, Hang Seng and Straits Times all closed lower in indices. (T/RS5/RS1)

Mi’raj Islamic News Agency (MINA)