Jakarta composite index closes lower in Fed sentiment

Jakarta composite index closes lower in Fed sentiment

Illustration. Electronic screen movement of shares on the Indonesia Stock Exchange, Jakarta. (ANTARA/Zubi Mahrofi)

Jakarta (ANTARA News) - The Jakarta Composite Share Price Index (IHSG) ended lower on investors expecting the Fed to raise its fund rate this month.

The index of the Indonesia Stock Exchange (BEI) lost 7.87 points or 0.13 percent to close at 6,169.84 points and the index of the 45 most liquid stocks fell 0.06 percent to 986.65 points.

Chief researcher of MNC Sekuritas Edwin Sebayang said the IHSG was under pressure in the last trading day of this week after being in the positive area with investors anticipating the Fed decision.

"The market wants to know the decision of the Fed on fund rate," he said.

Meanwhile, head of the Research Department of Indosurya Bersinar Sekuritas, William Surya Wijaya, said the IHSG fall was only temporary given the phenomenon of "window dressing" toward the end of this year is quite strong.

"Toward the end of year, normally IHSG tends to grow with market players accumulating prospective shares," he said.

Trading on Friday recorded 365,234 transactions with 10.002 billion shares worth Rp9.62 trillion changing hands. Gainers were outnumbered by decliners by 156 to 221 shares and 151 shares unchanged.

Regional markets such as Nikkei, Hang Seng and Strait Times recorded a decline in index.

Reporting by Zubi Mahrofi
Editing by Bustanuddin